Elvis Presley: A $ 30 million ATM every year

Ihe died almost without wealth, and yet his name has never brought so much … Every 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 many years, Elvis was one of the most lucrative deceased artists after Prince and Michael Jackson, the latter received more than $ 70 million in revenue last year. year.

But Elvis could well break all records in 2022 after the release of his first big biopic with Austin Butler and Tom Hanks in the lead roles, which was well received by critics. If the film became a hit in cinemas, then according to Bohemian Rhapsody (2018) by Freddie Mercury, he should increase the number of hits, sales of records, souvenirs and other goods… For Netflix also runs an animated series, and events are organized in the metaverse, thanks to the launch of this month’s project. Elvis on a chain, where fans can meet to celebrate their idol. Not to mention the pilgrimage to Graceland, the Memphis-owned museum, a must-see for the singer’s fans and a real dairy cow, which brings in more than $ 10 million a year on its own, with adult tickets ranging from $ 48 to $ 196. …

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All this unexpected profit, which combines several different accounts, as described in detail in the author’s article Figaro. Music royalties and publishing rights are divided between Sony Music, which owns all the singer’s records, and Universal Music for publication. Brand and image rights are managed by 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 … 85% stake in Elvis Presley Enterprises, including Graceland, which it runs at full speed, with a special hotel, interactive exhibitions and the King’s Car Museum, where you can admire his Cadillacs, limousines and Rolls…

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Crazy way of life

This hereditary treasure has long been in the family, thanks in part to the perseverance and efforts of Priscilla Presley, the king’s wife and the mother of his only heiress, Lisa Marie. When Elvis died in 1977, the accounts were almost empty due to a crazy lifestyle and the transfer of much of his RCA fees. The only good is Graceland, which at the time was valued at $ 5 million, but the cost of maintenance is impressive. As a performer, Priscilla creates an EPE (Elvis Presley Enterprises) to try to rescue the treasury. And this is a success: with the help of financial experts, she manages image contracts, merchandising and, above all, turns the singer’s mansion into an extremely profitable tourist destination, according to the magazine. Forbes.

When Lisa Marie came of age in the early 1990s, the EPE was valued at $ 100 million. But in 2005, in debt and unwisely, the heiress eventually sold 85% of the goose that lays the golden eggs to the first American firm, which then resold it to ABG – for sale, which Lisa Marie later regretted, especially that it would be lose a significant portion of the fruit from sales in unsuccessful investments. Therefore, the king’s heiress today can count on only 15% of the unexpected income from her famous father, who pampered her all her childhood. “One thing is for sure respect the magazine Forbes : Raising Lisa Marie with a silver spoon in her mouth didn’t help limit her spending in adulthood… ”