Michael Jackson's promoter looks to turn a profit - Macleans.ca

Michael Jackson’s promoter looks to turn a profit

Between unreturned tickets, rehearsal footage and insurance money, AEG should more than recover its losses

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The L.A.-based concert promoter AEG Live spent $25 million to $30 million preparing for Michael Jackson’s comeback tour. It also sold $85 million in tickets. So many figured that Jackson’s death would ruin the company. However, there is a chance that AEG might not just recoup its losses, but turn a profit. To start, the company has offered fans either a full refund or a special souvenir ticket. Almost half have opted for the ticket—a number that could help the promoter break even. AEG also stands to recovers losses through an insurance policy. It can file a claim if Jackson is found to have died accidentally or from prescription drugs. Lastly, there is footage from rehearsals that will almost certainly be turned into a documentary. AEG would be entitled to a cut of the proceeds. Even in death, the Michael Jackson franchise will likely be very lucrative.
Los Angeles Times

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