The film of Michael Jackson’s rehearsals for his British concert tour was a big risk for Sony (NYSE:SNE) which apparently put up $60 million for the rights to the footage. The gamble paid off.

The film “This is It” made $20 million in its first day. The movie was released worldwide and it will only be shown in theaters for two weeks. A music CD is being released at the same time and sales expectations for it are huge.

Sony is now indicating that it may extend the run of the movie beyond the two-week window because demand is so great. Many theaters showing the film are sold out for days.

At the current rate of ticket sales, even if attendance drops after this weekend, “This is It” has an excellent chance of bringing in $200 million. If its run is extended sales could go beyond that, which would make the movie a mega-hit by any Hollywood standard.

Jackson is proof, once again, that a deceased star can make money in the years after his passing. Elvis may be the best example of this, but his money-making legacy may be eclipsed by the King of Pop.

Jackson may have died at 50, but his name may make money as his birthday moves toward 100.

Douglas A. McIntyre

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