Expert: Jackson would have earned $1B on comeback
+2
midangerous
Admin
6 posters
MJ's L.O.V.E. Is Magical :: II. Michael Jackson & Law (Criminal & Civil Legal Cases/Lawsuits) :: MJ Lawsuits & Civil Litigations-Entire AEG Case-News/Updates
Page 1 of 1
Expert: Jackson would have earned $1B on comeback
by Admin Mon Jul 15, 2013 5:23 pm
Expert: Jackson would have earned $1B on comeback
By ANTHONY McCARTNEY
July 15, 2013
LOS ANGELES (AP) — Michael Jackson could have earned $1.1 billion or more if he had performed a worldwide concert tour and created a Las Vegas show before his death, an accounting expert familiar with the singer's earning potential told jurors on Monday.
Arthur Erk, a certified public accountant who conducts royalty audits for musicians, told jurors that Jackson may have earned $1.5 billion for the shows if he had charged higher ticket prices during later shows on the "This Is It" tour.
Erk said he was using conservative estimates to figure Jackson's earning potential if he had lived for several more years, completed a worldwide tour and created a Las Vegas show based on his music. The estimates took into account endorsements and royalties that Jackson could have earned and are heavily dependent on the idea that Jackson would have performed a 37-month world tour.
His testimony was meant to show jurors the superstar's earning potential in the case brought by Jackson's mother against concert promoter AEG Live LLC.
Katherine Jackson claims AEG Live is liable for her son's death because it failed to properly investigate the doctor convicted of giving the singer an anesthetic overdose.
AEG denies it hired the doctor or bears any responsibility for Jackson's death at age 50 in June 2009.
Erk's figures also account for an estimated $134 million the singer would have likely spent before retiring from show business at age 65, Erk said.
FILE - In this Dec. 8, 1996 file photo, Michael Jackson belts out a song during the first concert of …AEG will likely contest the estimates, and the defense objected to the accountant offering his opinion in several areas. A judge overruled those objections.
Jackson had signed on for only 50 shows in London, although contracts for the shows indicated longer tour was a possibility.
Jurors will have to determine the amount of any damages in the case if they find AEG Live is liable for Jackson's death.
Erk said Jackson contemplated doing a Las Vegas show based on his music and archival footage that would have generated new royalties for the singer. Plaintiff's attorney Kevin Boyle said the estimates anticipated the Vegas show would run 10 years.
Jackson also contemplated a film career, according to testimony from his nephew Taj Jackson and the singer's longtime creative collaborator, Kenny Ortega. Erk will not offer any estimates on how much Jackson may have earned if he had a successful film career.
Erk is testifying as an expert witness. The accountant also performed royalty audits on companies that released Jackson's music during the height of his popularity in the 1980s, he said.
[You must be registered and logged in to see this link.]
By ANTHONY McCARTNEY
July 15, 2013
LOS ANGELES (AP) — Michael Jackson could have earned $1.1 billion or more if he had performed a worldwide concert tour and created a Las Vegas show before his death, an accounting expert familiar with the singer's earning potential told jurors on Monday.
Arthur Erk, a certified public accountant who conducts royalty audits for musicians, told jurors that Jackson may have earned $1.5 billion for the shows if he had charged higher ticket prices during later shows on the "This Is It" tour.
Erk said he was using conservative estimates to figure Jackson's earning potential if he had lived for several more years, completed a worldwide tour and created a Las Vegas show based on his music. The estimates took into account endorsements and royalties that Jackson could have earned and are heavily dependent on the idea that Jackson would have performed a 37-month world tour.
His testimony was meant to show jurors the superstar's earning potential in the case brought by Jackson's mother against concert promoter AEG Live LLC.
Katherine Jackson claims AEG Live is liable for her son's death because it failed to properly investigate the doctor convicted of giving the singer an anesthetic overdose.
AEG denies it hired the doctor or bears any responsibility for Jackson's death at age 50 in June 2009.
Erk's figures also account for an estimated $134 million the singer would have likely spent before retiring from show business at age 65, Erk said.
FILE - In this Dec. 8, 1996 file photo, Michael Jackson belts out a song during the first concert of …AEG will likely contest the estimates, and the defense objected to the accountant offering his opinion in several areas. A judge overruled those objections.
Jackson had signed on for only 50 shows in London, although contracts for the shows indicated longer tour was a possibility.
Jurors will have to determine the amount of any damages in the case if they find AEG Live is liable for Jackson's death.
Erk said Jackson contemplated doing a Las Vegas show based on his music and archival footage that would have generated new royalties for the singer. Plaintiff's attorney Kevin Boyle said the estimates anticipated the Vegas show would run 10 years.
Jackson also contemplated a film career, according to testimony from his nephew Taj Jackson and the singer's longtime creative collaborator, Kenny Ortega. Erk will not offer any estimates on how much Jackson may have earned if he had a successful film career.
Erk is testifying as an expert witness. The accountant also performed royalty audits on companies that released Jackson's music during the height of his popularity in the 1980s, he said.
[You must be registered and logged in to see this link.]
Admin- Admin
- Posts : 6072
Join date : 2012-07-22
Location : USA
midangerous- Posts : 3098
Join date : 2012-07-23
Age : 34
Location : United States
Re: Expert: Jackson would have earned $1B on comeback
by ijustcan'tstoplovinguMJ Mon Jul 15, 2013 6:09 pm
o.o
ijustcan'tstoplovinguMJ- Posts : 2354
Join date : 2013-02-11
Age : 25
Re: Expert: Jackson would have earned $1B on comeback
by jw224 Mon Jul 15, 2013 11:33 pm
Michael could have done anything to get money, he was loved by so many people, but I know he would only do something if it really mattered to him, if he felt it had a real purpose behind it.
jw224- Posts : 216
Join date : 2013-01-30
Re: Expert: Jackson would have earned $1B on comeback
by WeAreTheWorld. Tue Jul 16, 2013 12:20 am
One billion dollars, how amazing!
I agree with you jw, he could have done almost anything and it would make millions, and of course whenever a situation arose where he wanted to raise money for a certain cause, he could do it easily.
I agree with you jw, he could have done almost anything and it would make millions, and of course whenever a situation arose where he wanted to raise money for a certain cause, he could do it easily.
WeAreTheWorld.- Posts : 1967
Join date : 2012-07-22
Age : 27
Location : United States
Re: Expert: Jackson would have earned $1B on comeback
by Capricious Anomaly Tue Jul 16, 2013 10:18 am
1.4B is only for the TII Tour too. Imagine all MJ would have earned with all his other plans. Think of all the good he would have been able to do for this world, children and charities with all that income. Remember the 20% of the top he always donated?
I always thought of that like when I was a little girl and in church when they passed the plate for our 'tithe' we gave (my family) 10% or more of all our income to our church for charities and to run the church. I wonder if churches still have that 'tithe' happening.
I always thought of that like when I was a little girl and in church when they passed the plate for our 'tithe' we gave (my family) 10% or more of all our income to our church for charities and to run the church. I wonder if churches still have that 'tithe' happening.
Capricious Anomaly- Posts : 1446
Join date : 2012-07-23
Age : 57
Location : USA
Similar topics» Expert: Promoter created conflict with Jackson doc
» ALL CNN TRIAL REPORTER ALAN DUKE'S NEWS ARTICLES - UPDATED DAILY
» ALL ANTHONY McCARTNEY (AP) ARTICLES FROM 'THE BIG STORY' WEBSITE THREAD
» All the Los Angeles Times Jackson v AEG News Stories Thread
» MJ estate denies allowing expert to help AEG
» ALL CNN TRIAL REPORTER ALAN DUKE'S NEWS ARTICLES - UPDATED DAILY
» ALL ANTHONY McCARTNEY (AP) ARTICLES FROM 'THE BIG STORY' WEBSITE THREAD
» All the Los Angeles Times Jackson v AEG News Stories Thread
» MJ estate denies allowing expert to help AEG
MJ's L.O.V.E. Is Magical :: II. Michael Jackson & Law (Criminal & Civil Legal Cases/Lawsuits) :: MJ Lawsuits & Civil Litigations-Entire AEG Case-News/Updates
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|