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Entertainonomics: Is Recession Just a Myth?
Michael Jackson is recession-proof
Bhuwan Thapaliya (Bhuwan)     Print Article 
Published 2009-03-29 10:44 (KST)   
With the economic downturn deepening, attracting private money to the financial industry may be difficult. But that is not the case with the entertainment industry -- if the entertainer is Michael Jackson, undisputed "King of Pop."

Recession or not, it seems that his popularity is not subjected to diminishing returns.

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The very fact that more than 750,000 tickets were sold out in 4 hours testifies the man's greatness as the most influential musical icon in the entire history of the Pop.

Michael Jackson sold out 50 planned concerts at London's 02 Arena for his historic comeback concerts in July and next January.

"The shows will start on July 8 and run through September before resuming in January and February of 2010," according to the media reports.

"The 50-year-old 'King of Pop' will play the 20,000-seat venue near Docklands. The 02 has hosted comebacks by artists such as Prince, who staged 21 concerts, and was the venue of the Led Zeppelin reunion in 2007," according to the report published by the Bloomberg.

People all over the world are very skeptical about spending and the consumer demand has deteriorated a lot, but it seems that Recession is not having any effect on Michael Jackson's fans. Michael Jackson is recession-proof.

Governments all over the world are fighting hard to revive their economy. The World Bank has already forecasted that 2009 will be the worst year for the global economy and economic forecasts suggest that the solution is not just around the corner.

Considering so, nobody and not even Jackson, who has sold more than 750 million records and won 13 Grammy Awards, would have thought that his 750,000 tickets would be sold out in 4 hours.

But it did and the king of pop whose last series of concerts was the History Tour way back in 1996-1997 is all set to take the musical world by storm.

"Is recession just a myth?"

We are forced to ask this question after the enormous monetary craze shown towards Michael Jackson's expensive concert in England, a nation said to be hard hit by Recession.

750,000 tickets were sold and they say that the world is in recession. And then you may have scratched your head thousand times and said, "How it happened, how the concert tickets were sold out in such a little time?"

A hard fact to digest, isn't it? But it would be a sign that the world has understood what it is to be a great entertainer.

One irony though, these people are spending so much to see Michael Jackson but why aren't they spending a little more to boost consumer demand and revive their economy.

Perhaps, they believe more in Jackson and in his entertaining power than their belief in their economy and its stability.

Maybe the Michael Jackson concert will have a spillover effect and at least give some boost to the faltering British economy.

Let us hope for the best. Hail! Entertainonomics.

©2009 OhmyNews
Other articles by reporter Bhuwan Thapaliya

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