According to Billboard, the estimated value of Michael Jackson's entire music catalog is $1.2 billion. That includes a collection of the artist's songs, copyrights and future royalties from streaming and licensing deals.
Sony is said to have bought a 50% stake in Jackson's catalog last year in what is reportedly the richest sale for an individual musician's work.
Experts say another blockbuster deal is closing soon for the music of Queen — also valued at around $1.2 billion.
"When I first got into the business, nearly 30 years ago, there were a lot of resistance to selling catalogs. A lot of songwriters could never bear to sell their creations. And that changed about starting about 10 years ago," said Guy Blake, entertainment lawyer and partner at Granderson Des Rochers.
Investors have been betting big on music rights over the past couple years — with legacy artists like Bob Dylan, Tina Turner and Bruce Springsteen, as well as younger artists like Katy Perry and Justin Bieber — selling their catalogs for millions of dollars.
Bieber's catalog was bought last year for more than $200 million by the music investment group Hipgnosis Songs Fund.
The catalog, which includes 290 titles, is one of the youngest collections to reach a nine-figure valuation. Investors keen on collecting future streaming royalties and money from things like ad placements say Bieber's music has almost 82 million monthly listeners on Spotify alone.
"Artists are becoming more business savvy. The financial win is bigger than the so-called sellout perception. And I think that artists are giving each other high fives when that happens now as opposed to criticizing each other," said Blake.
For artists, selling a catalog doesn't mean letting go of music entirely. Experts say musicians are reaping the rewards of their earlier work, re-investing in their careers, retirement and legacy.
Michael Jordan's 'Last Dance' shoes net $2.2M at auction
They are the only authenticated complete pair of sneakers Jordan has worn in any of his six NBA Finals series.
