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Sony Music and Sony Pictures the Entertainment wing of the electronic giant are celebrating the success of Michael Jackson’s “This Is It ” a documentary film showing the last rehearsals of the late Legendary King Of Pop Michael
Jackson.
The film has already grossed over $ 200 million worldwide and is all set to be biggest grosser ever in the concert film category. Earlier this week , it was reported that Sony’s quarterly loss was reduced due to large sales in Michael Jackson’s albums and due to the success of the movie This Is It.
Now looking forward to 2010 , Sony Music and other labels already have big plans ready in their kitty to cash in on the ” Michael Jackson Mania ” that is rising all over the world to an record breaking extent, especially after the release of ” This Is It “.
Reportedly both Sony and Universal Music are the front runners in the bidding for Michael Jackson’s unreleased materials , most of which the singer himself wrote and composed after the release of his last album Invincible in 2001. Jackson reportedly wanted a new album with most songs written and composed by himself , as he was quoted telling the same during a Music Award event.
” If Sony gets the rights, then fans will have a tough time .it is so because Sony will repackage old songs with one or two new songs ,but if some other company like Universal or Warner gets the rights to release – Jackson’s new music ,then Michael Jackson fans will be the biggest gainer, because the new label means the fans will get only new songs as the rights of the old songs catalogue of Michael are still with Epic / Sony Music. But still , Sony has an upper hand in the bidding due to the strong bond between the company and Jackson’s executors John Branca and John Mc Clain.” Says an Insider of the music industry.
” Whichever label releases the album , it doesn’t really matter , because Michael Jackson doesn’t really need a label , its his name that sells like hot cakes.. ” Says Tim ,a Michael Jackson fan.