Expert: Michael Jackson would have earned $1B on comeback
LOS ANGELES (AP) — An entertainment accounting expert says 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.
The estimate by Arthur Erk came Monday during testimony in a lawsuit filed against concert promoter AEG Live LLC by the singer’s mother. Erk estimates that if Jackson’s tour charged higher ticket prices, he may have earned $1.5 billion for the shows.
Erk says the figures account for an estimated $134 million the singer would have likely spent before retiring from show business at age 65. Jackson died in June 2009 at age 50.
AEG will likely contest the figures. Jackson had signed on for only 50 shows in London, but Erk estimated for a worldwide tour.
Copyright 2013 The Associated Press.