The Elvis Presley brand has been sold to the company that handles the image of Marilyn Monroe.No price has been revealed but Elvis is still one of the world’s most lucrative entertainers.
As part of the deal, Elvis’s daughter Lisa Marie will continue to own Graceland, her father’s former home in Memphis.
When Elvis Presley died in August 1977, he was reported to have around US$ 5 million in the bank.
Last year, earnings from his estate reached an estimated US$ 55 million, second only in posthumous worth to Michael Jackson. The money comes from careful marketing of his image and from Graceland, which is a hugely popular tourist attraction.
In 2011, a company led by the American billionaire Robert FX Sillerman bought the majority rights to Graceland and Elvis Presley Enterprises. He has now sold the business to Authentic Brands group, which says it plans to increase Elvis’ popularity and fan base worldwide.
Lisa Marie Presley said in a statement: “While I will continue to own Graceland and the original artefacts, we are looking forward to working with our new partners to continue the growth and expansion we have been working toward.”
One example of Elvis marketing is UK talent show winner Susan Boyle’s anticipated release of a Christmas duet with Elvis’s voice on a version of “O Come All Ye Faithful”. And a compilation album called “The Nation’s Favourite Elvis Songs” is currently number five in the UK album chart following a television special.