"This Day In HIStory" March 20, 1991 ~ MJ Is Announced As The Highest Paid Musical Entertainer By Guinness Book.
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"This Day In HIStory" March 20, 1991 ~ MJ Is Announced As The Highest Paid Musical Entertainer By Guinness Book.
by MJ Mod Tue Mar 19, 2013 9:58 pm
On March 20, 1991 Michael enters the Guinness Book of World Records as the highest paid entertainer in the music industry and up to today still holds his record. The Guinness Book of World Records reports that the contract is worth US$ 890 million [US$ 1 billion is estimated].
Michael received an US$ 18 million cash advance for the forthcoming album, plus a $ 5 million bonus for this and each of his next 5 albums.
Michael, now the highest-paid entertainer in the music industry, receiving a royalty rate of 25% on each album sold. He is also CEO of his own record label, Nation Records [which was renamed to MJJ Productions later], for which he will receive US$ 1 million per annum. The lucrative deal is reported in the press as setting new standards for cost and scope.
Michael received an US$ 18 million cash advance for the forthcoming album, plus a $ 5 million bonus for this and each of his next 5 albums.
Michael, now the highest-paid entertainer in the music industry, receiving a royalty rate of 25% on each album sold. He is also CEO of his own record label, Nation Records [which was renamed to MJJ Productions later], for which he will receive US$ 1 million per annum. The lucrative deal is reported in the press as setting new standards for cost and scope.
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Re: "This Day In HIStory" March 20, 1991 ~ MJ Is Announced As The Highest Paid Musical Entertainer By Guinness Book.
by Admin Fri Mar 21, 2014 6:43 pm
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