Elvis Presley: $30 million a year ATM machine


Ihe died almost without a fortune, and yet his name has never brought that much … Each year, Elvis Presley’s posthumous business is about $30 million, according to the magazine. Forbes : 40 million in 2019, 23 million in 2020 due to the pandemic and 30 million last year… For years, Elvis was one of the highest-grossing dead artists after Prince and Michael Jackson, the latter making over $70 million last year . year.

But Elvis could very well break all records in 2022 with the release of his first major biopic, starring Austin Butler and Tom Hanks, which was fairly well received by critics. If the film becomes a hit in theaters, according to Bohemian Rhapsody (2018) about Freddie Mercury, he should increase hit downloads, record sales, memorabilia and other merchandise… An animated series is also in development for Netflix and events are being organized in the metaverse thanks to the launch of the project this month. Elvis On Chain, where fans can meet to celebrate their idol. Not to mention the Graceland pilgrimage, a Memphis property turned museum, a must-stop for the singer’s fans, and a real cash cow as it brings in over $10 million a year on its own – adult tickets range from $48 to $196. …

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All this windfall that brings together several different accounts, as detailed in the article Figaro. Music and publishing rights are split between Sony Music, which owns all of the singer’s recordings, and Universal Music for publishing. The brand and image rights are held by the ABG (Authentic Brands Group), which also develops the business of other celebrities such as Marilyn Monroe or Mohamed Ali, as well as many different companies … this is ABG, which has taken control of 85% of the shares Elvis Presley Enterprises, including notably Graceland, which it runs at full capacity, with a dedicated hotel, interactive exhibits and the King’s Car Museum, where you can admire his Cadillacs, limousines and Rolls…

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Crazy lifestyle

This heritage treasure has long been in the family, thanks in part to the tenacity and efforts of Priscilla Presley, wife of the king and mother of his only heir, Lisa Marie. When Elvis died in 1977, the accounts were almost empty due to a crazy lifestyle and the transfer of a large part of his royalties to RCA. The only good one remains Graceland, which was valued at $5 million at the time, but whose maintenance cost is staggering. As a performer, Priscilla creates EPE (Elvis Presley Enterprises) to try and bail out the treasury. And it’s a success: with the help of financial specialists, she manages image contracts, merchandising and, above all, turns the singer’s mansion into a hugely profitable tourist attraction, according to the magazine. Forbes.

When Lisa Marie came of age in the early 1990s, EPE was valued at $100 million. But in 2005, running into debt and recklessly, the heiress sold 85% of the golden goose to the first American firm, which then resold it to ABG. lose much of the fruit of the sale in a bad investment. That is why the heiress of the king today can only count on 15% of the windfall income received from her famous father, who spoiled her all her childhood. “One thing is certain read a magazine Forbes : Raising Lisa-Marie with a silver spoon in her mouth did not help cut her expenses as an adult…”