Today in MJJ HIStory  

Posted by Majical Child in ,

1991 - In New York City, the biggest deal in music history was announced between Michael and Sony, who bought CBS in 1988. The Japanese-owned multi-national corporation signs Michael to a 15 year, 6-album record and film contract.

Michael enters the Guinness Book of World Records as the highest paid entertainer in the music industry and up to today still holds his record. The Guinness Book of World Records reports that the contract is worth US$ 890 million [US$ 1 billion is estimated].

Michael received an US$ 18 million cash advance for the forthcoming album, plus a $ 5 million bonus for this and each of his next 5 albums.

Michael, now the highest-paid entertainer in the music industry, receiving a royalty rate of 25% on each album sold. He is also CEO of his own record label, Nation Records [which was renamed to MJJ Productions later], for which he will receive US$ 1 million per annum. The lucrative deal is reported in the press as setting new standards for cost and scope.

1998 - Michael appeared for the second time on the German television show "Wetten dass...?" ["Wanna bet...?"] to announce that he will hold 2 charity concerts:

"Michael Jackson and Friends", one in Munich, Germany [June 27, 1999], and one in Seoul, South Korea [June 25, 1999].

Michael's appearance attracted the same record-breaking viewership of 18 million in Germany alone, like his first appearance on November 4, 1995. Michael's now second appearance is again a mega event for both the fans and the press!

This entry was posted on 20 March 2011 at Sunday, March 20, 2011 and is filed under , . You can follow any responses to this entry through the comments feed .


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