| Jackson eclipses Elvis, Lennon in posthumous sales | |
| Bloomberg / London July 1, 2009, 0:23 IST | |
Michael Jackson outsold John Lennon and Elvis Presley in the week after their deaths, the UK’s largest music retailer, HMV Group Plc, said on Tuesday.
Sales at HMV surged 80-fold the day after the 50-year-old singer died as fans across Britain, Canada, Hong Kong and Singapore snapped up his “Number Ones” album, featuring hits such as “Billie Jean” and “Smooth Criminal.”
The increase in sales was greater than that which followed the deaths of Presley in 1977 and Lennon in 1980, Chief Executive Officer Simon Fox said on a conference call. “We were overwhelmed on Friday by customers coming in store and online.”
HMV said it sold about 50,000 Michael Jackson albums on June 26 and 27 and estimated that about 125,000 were purchased across the UK industry in the two days after the singer’s death. The “Number Ones” album has already climbed to the top of the UK music charts, from 121 a week ago, Fox said.
The CEO said Jackson’s “Man in the Mirror” has been the retailer’s most downloaded track, beating classics such as “Thriller,” and The Jacksons’ “Blame it on the Boogie.”
“Thriller” is HMV’s second-biggest selling Jackson album, followed by “King of Pop” and “Off the Wall,” he said.
The CEO said the increase in sales “won’t have a material effect on the business.” HMV had stocked up with Jackson’s music in anticipation of demand following the singer’s live shows, which had been due to start in London next month.
HMV on Tuesday reported a 50 per cent drop in annual profit after a gain from the sale of its Japanese outlets wasn’t repeated.
Pretax profit from continuing businesses rose 18 per cent to £61.3 million ($101.7 million) as sales increased 4.4 per cent to £1.96 billion. The market for CDs will decline to about 20 per cent of sales in the next few years, from 28 per cent now, Fox said.
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