Expert: Michael Jackson would have earned $1B on comeback
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 today.
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, 260-concert world tour.
AEG Live defense attorney Sabrina Strong questioned Erk's assumption during cross-examination because Jackson had never completed a tour that long and hadn't performed a tour in more than a decade.
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.