It’s often said that artists are worth more dead than alive. Since his death in 1977, Elvis Presley has consistently out-earned most living celebrities. Over the past 12 months, the Elvis Presley estate earned just shy of $49 million, reclaiming the number one position on Forbes’ “Top-Earning Dead Celebrities” list.
While alive, Elvis never earned the kind of big money he’s bringing in today, even adjusted for inflation. But it’s not only the King’s name and reputation that is bringing in the big bucks. A company called CKX entertainment purchased part of the Elvis Presley estate last year from the singer’s daughter, Lisa Marie Presley. CKX had devoted a great deal of energy, and an enormous advertising budget, to renewing interest in Presley as both a singer and actor.
And though he’s best known as a singer, “Elvis Movies,” as they have come to be known by fans around the world, are making something of a comeback. For many years the singer’s acting talents were berated, and his Hollywood feature films were more often than not the butt of inside industry jokes. But “The King” seems to be having the last laugh, even from the grave.
Elvis movies have become cult classics, and even younger viewers are being introduced to the crooner through his work in film. CKX entertainment has taken the lead in exposing the MySpace generation to Elvis, through both his music and acting career.
But Presley is not the only rock ‘n roll legend still raking in the big bucks. Former Nirvana front man Kurt Cobain ranks number four among 2007’s dead celebrity earners. Both Jon Lennon and George Harrison from the Beatles also figure prominently on the top 10 list, as does rapper Tupac Shakur and “Godfather of soul,” James Brown.
More and more companies are discovering that deceased celebrity estates make great investments. CKX entertainment is one of the more recent arrivals, but national and multi-national corporations are increasingly investing in dead celebrities.
Just how long can Elvis remain a multimillion dollar cash machine? Experts disagree on the long-term potential for profit from celebrity estates, but most analysts believe the profitability of a celebrity estate can continue indefinitely — assuming they are marketed correctly.
With deceased singers and actors bringing in record-breaking paychecks, Wall Street has taken notice, and more and more private and corporate investors are jumping on the “dead celebrity bandwagon.”
After all, living celebrities can make mistakes, bad career moves, or find themselves embroiled in a current controversy. Deceased celebrities, like Elvis Presley, are only remembered for the good they did — their mistakes are all behind them.
