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Michael Jackson's death has led to speculation as to the future earnings potential of his franchise. As expected, there has been a surge in album, iTunes and Amazon MP3 sales since his death and that demand is expected to continue for several more weeks. Savvy entrepreneurs have taken the opportunity to hawk Jackson memorabilia via online outlets such as eBay and Craigslist. This type of activity is expected in the wake of the death of a high profile celebrity. The question that has yet to be answered is will the Jackson franchise equal or exceed that of Elvis Presley, whose Graceland property and other ancilliary revenue sources generates roughly 40 million per year. Presley continues to churn impressive sales even though he died 32 years ago (August 16, 1977).
Early indications are that there is and will be a huge demand for Jackson products. At the time this article was written over 1.5 million people had requested tickets for the July 7th memorial service to be held at the Staples Center in Los Angeles. Thousands of fans gathered in New York for a Jackson tribute at the Apollo Theatre. Unlike Elvis, Jackson's fan base is global. Jackson is more popular in the UK, France and Japan than he is in the United States.
On the downside, the vision of turning the Neverland Valley Ranch into a Graceland type cash cow may never come to fruition. The infrastructure of Neverland may not be sufficient to support the type of crowds Neverland would attract. In addition, the people who live in the community are not in favor of having that type of an attraction in their neighborhood.
Despite the absence of a Graceland type attraction the Jackson franchise will prosper because it can leverage off of a marketing tool that wasn't available to Presley in 1977: the internet. The ability to market online brings a viral Neverland to the customer. The online selling potential of Jackson music and goods is unlimited. It will be very interesting and a bit of a learning experience for all of us as we watch the online development of the Jackson franchise.
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