Yesterday, Michael Jackson engaged in a rather awkward fan conference that was assembled to announce his run of dates at London’s O2 Arena. Today comes word that Jackson could make a boat load of money from the dates–as much as $30 to $50 million– and if he decides to take the shows international (which he reportedly is considering), he could make upwards of $400 million over the next four years.
The Wall Street Journal has the details of Jackson’s deal with AEG Live, which is planning a similar run of dates for Jackson in Asia and North America (which couldn’t go down until 2011, for unexplained reasons).
Depending on how many dates he adds, Mr. Jackson’s take from the London concerts alone could be between $30 million and $50 million, according to people familiar with the matter. Tickets to the London performances are to go on sale, via an online lottery system at MichaelJacksonLive.com, next Wednesday for £50 ($70) to £75 ($105) each.
Mr. Jackson would then have the option to add more dates in Europe, Asia and finally North America. But he is not committed to play any shows beyond the original 10, and would in any event not reach the U.S. before 2011. "He has been the biggest star in the world and it’s time for him to get back on the stage," said Randy Phillips, president and chief executive of AEG Live.
But here’s the rub–all of this is predicated on there being an enormous demand to see circa 2009 Michael Jackson. But considering the economy (we’re broke out here), and the fact that most people really want to see Jackson circa 1982, the demand might not be as huge as AEG is assuming. But if it is, Jackson could be on the way to getting out of the financial troubles that have been hounding him for the past few years.
It also might be the first step to alleviate some of his image problems following his alleged dalliances with underage boys. That’s not likely to happen, but at least his money would be all right. [Idolator]