PSP World

Sony Set to Profit Immensely from Michael Jackson

The day after Michael Jackson died tragically in his California home, it was impossible to go anywhere without hearing his music playing. Fans rushed out to buy CDs for the first time in years, while iTunes sold a record number of Michael's classic tracks. There was even speculation that a long-rumored video game featuring the singer's likeness would finally be developed and released for current-gen consoles.

The profit bonanza stemming from the singer's death is far from over. Sony owns the rights to Michael Jackson's music though its Columbia/Epic record label. Hype is already building for newly-discovered music and film releases by Sony. The company announced that it will release a never-before-heard Jackson track called 'This is it' on Sunday at midnight. The track is featured on the upcoming 2-disc set that Sony will release on October 27th. The set will come with a 36-page commemorative booklet stocked with photos of Jackson's last rehearsal for his This Is It concerts.

There is also an upcoming film from Sony Pictures that will explore the rehearsals for Jackson's massive uncompleted London tour in the months leading up to his death. Sony reportedly paid $50 million for the footage, which was auctioned off by the singer's concert promoting company back in August. That film will run for two weeks in theaters starting on October 28th, and will likely produce hundreds of millions of dollars in box office receipts. But after that, who knows? DVD collector editions are almost a certainty. Legions of fans are expected to flock to the film as well as the accompanying musical soundtrack, and the potential for profit here is almost endless.

Will the immense revenues generated by Michael Jackson memorabilia aid Sony's efforts in other part of its business? Maybe, but one thing is almost assured: the computer entertainment branch would love to get some part of the action. This means that funding is likely to pour into development of a Michal Jackson video game (if such a prototype really exists) and that the eventual game is likely to be a Sony exclusive. To read more details about the rumored video game project, check our original post here.