According to Fortune magazine bob marley is worth……and set to generate more than $1 billion in worldwide annual sales by 2012 after striking a deal with his estate!
TORONTO (Fortune) — Is reggae superstar Bob Marley bigger than Jesus? That’s debatable, but the music legend who died 28 years ago is about to challenge Elvis Presley and Michael Jackson for the title of richest dead celebrity.
Toronto-based private-equity firm Hilco Consumer Capital has struck a management deal with the Marley estate, which is expected to generate worldwide annual sales in excess of $1 billion by 2012. That seems like a huge number, but by some estimates the Marley name, sound, and image already generate as much as $600 million in pirated merchandise.
“Marley is a strong global brand,” says Mickey Goodman, a professional marketer and professor at New York University’s Stern School of Business. “He enjoys a high level of awareness, and people feel positive about his music.”
Major licensing agreements for the Marley brand are about to be launched in two key areas: consumer electronics — including headphones, docking stations, and speakers — and health care, which will likely feature skin-care products and herbal supplements. Also in the works, according to Hilco, are deals for a Marley-branded calming beverage, a video game similar to Guitar Hero featuring Marley’s songs, and a chain of restaurants celebrating the music superstar.
Could this be commercial overkill for the Rastafarian whose spiritual songs about social injustice, hope, and redemption have become anthems for billions of fans, from Marrakech to Tokyo, and will it alienate them?
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