Many reliable sources on the internet have label Whitney Houston’s estate as BROKE and in a financial bind. Sources say that Whitney Houston was already on the brink of a financial calamity even facing bankruptcy. Music Industry Insider Wayne Russo gives a full break down of Whitney’s liability to Sony Music Group, and why it may be a long time before her Estate would reap any of her music royalty wealth. (Read article here) But music royalty wealth is only one piece of a very big pie that heirs of Whitney Houston can profit from to continue her legacy.
Celebrity wealth in death is not a new topic, and until Michael Jackson’s death in 2009, Elvis Presley reign as the highest paid dead celebrity. Keep in mind that the bulk of wealth that is deriving from Elvis Presley is not music royalties. Presley’s postmortem earnings come from Graceland admissions, licensing and merchandising and a Cirque du Soleil. Licensing and Merchandising is a billion dollar industry and the advisors to these dead powerhouses know it; that’s why Elvis Presley Enterprises, Inc. (not to be confused with his estate) gross proceeds for 2011 were in the billions.
Whitney Houston’s Legacy & Deja Vu
Although the Estate of Whitney Houston maybe in debt to the Sony Music Group, for music royalties. Nothing is stopping the heirs in creating a new company that will continue to keep Whitney Houston’s legacy alive and bring in some of those postmortem riches. Let us not forget that when Michael Jackson died, once again reliable sources on the internet said is estate was in debt to AEG for $30-35 million, fast forward 2 1/2 years later, Forbes listed him as one of the highest paid dead celebrities in 2011.
© 2012, Lorillia Brown-Phillips. All Rights reserved.