Michael Jackson's income continues to soar after his death

One year after his death, pop singer Michael Jackson's music continues to generate millions of dollars in revenues for the entities he has left behind.

Before Jackson died a year ago, his income was not even enough to pay off his maturing obligations. His finances were on disarray with expenses exceeding income by at least $20 million a year. As Jackson fans observe the singer's first death anniversary, there is little doubt the king of pop has become even more popular after his death. On Jackson's music income, it is estimated his music sold 10 million albums in the US alone while overseas sales soared to around 24 million. Income from other musical sources and royalties reached $429 million. Film/TV revenues is valued at $392 million representing business from the US and income from international sales. Jackson's music publishing business has now a reported value of $130 million. His licensing business contributed at least $35 million while his recording contract has brought in $31 million. Overall, the Jackson estate has generated over US 1 billion in revenues since the popular pop singer died in June 2009. When Jackson died, he was nearly $500 million in debt, according to a source familiar with his estate who is not authorized to speak about financial matters. In the year since, the debt has been reduced to about $300 million, the source said. The remaining debt is "very manageable" considering the income flowing into the estate, the source said.