Vic Valenciano, A&R director of Sony/BMG has announced that the sales of Michael’s albums from his entire catalogue have saved the company from a projected loss of millions of dollars.
Valenciano said; “Ever since Michael passed away, record sales of MJ are equivalent to our sales for a year.”
In August this year the Sony company with offices worldwide reported a quarterly loss of around 26.3 billion but this was buoyed by sales of the Playstation 3 and Michael’s records. Valenciano added that even old stocks of Jackson albums, especially the ones that didn’t sell, sold well when they re-issued the albums.
“We even released non-selling or slow-moving albums. We reissued, and still, the records sold. Actually, we were caught off-guard by the surge of demand for MJ,” he said.
He did not give an exact sales figure, but said the number reaches “millions”. “We can say we made our quota,” he added.
Source: ABS/CBN News & MJWN