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Jackson Industry Can't Get Enough

mj.jpgIn the shadow of Michael Jackson's public memorial in Los Angeles, the value of Jackson's legacy seems to be growing.

Already, t-shirt and memorabilia entrepreneurs are on the move outside the venue where the memorial is taking place. Jimmy Jam of Jimmy's Jam T-Shirts in South Los Angeles says he's received orders from across the country for custom silkscreen designs in the king of pop's honor. Most of the customers want to turn around and sell the tops, he says.

"These are people who don't normally do that kind of thing," Jam told Los Angeles television station KTLA. "There's so much economic activity being generated from Jackson. It's feeding people. It's keeping a lot of youth who might be out trying to sell drugs or doing gang banging to be diverted. It's allowing people to have a decent, honest hustle."

Jam said he would be outside barricades erected around Staples Center in downtown Los Angeles to hawk his own Jackson memorial designs for $10 to $20 a piece.

Meanwhile, merchandise intended to be sold in conjunction with the star's 50-stop showcase in London is being sold online, with t-shirts going for as much as $40. Concert promoter AEG Live has already found a way to save its own shirt: Fans who purchased tickets to the sold-out series can opt to receive special souvenir tickets instead of refunds. Most of them have.

The promoter, in fact, seems likely to recoup if not profit. It owns footage of Jackson's last rehearsals -- footage that could be fodder for a DVD. And it's still unlcear what AEG will do with the all-star content on display at today's memorial.

The business of Jackson's memorial has also been a minor shot in the arm for the city of Los Angeles. The Los Angeles Times reports that memorial-related tourism could bring in $4 million in extra spending in the area this week.

In the New York Times this week author Bob Greene opines that, like Elvis Presley, Jackson's best days, economically, may be ahead. "Presley, in death, became an enormous earner," he writes.


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1 Comment

This is probably the most basic, surface level idea when it comes to business. Anyone who hasn't even stepped into a Business University can understand this concept. I just love this quote, " It's keeping a lot of youth who might be out trying to sell drugs or doing gang banging to be diverted. It's allowing people to have a decent, honest hustle.", although I'd wish this was true, the phenomenon that follows a passing of an icon with this kind of status is only temporary. Merchandise, tourism, this is all temporary. This cannot even compare to underground drug industry. Drugs sold on the black market alone account for $321.6 billion in sales according to the United Nations.

Also to make a note from personal experience, some will definately argue and I already know those arguements, in a situation like Michael Jacksons death you have fierce competition with t-shirts, collectibles, bootlegs and so on that entering this kind of market you enter instantly at a loss and the profits will be a little over break even. Most products that are made at an untimely death are usually unofficial hence the reason I say not very profitable. Collectors, fans, loyalists will only want official, licensed products. I say this with a background. Of course there will be purchases made of unofficial products like the day of Jacksons death a man hit the streets at Time Square selling MJ shirts for $20x50=$1000 of cold cash so he milked the situation efficiently.

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