Selling Elvis here, there… anywhere
TEXT OF STORY
Scott Jagow: Thirty years ago today, Elvis Presley died. The King is still making out pretty well. His estate still takes in over $40 million a year from merchandising, but as Wren Elhai reports, the people who run the Elvis business are looking for more.
Wren Elhai: Robert Sillerman collects most of that Elvis licensing money. His company, CKX, paid over $100 million for an 85 percent stake in Elvis Enterprises two years ago.
Elvis is still all over TV, the radio, fashion and art. Brand consultant Peter Montoya:
Peter Montoya: Elvis’ brand is being exposed 24 hours a day, 7 days a week, 365 days a year, somewhere in the world.
Montoya says in Elvis, Sillerman bought a marketer’s dream.
Sillerman’s master plan? A new Elvis-themed hotel and casino on Las Vegas Boulevard, an Elvis Cirque du Soleil show and a quarter-billion dollar facelift for Graceland.
Within a decade CKX sees Elvis tripling his take to $150 million a year.
Next? Could be Heart Break Hotel in Japan. It’s got more Elvis fan clubs than any other country.
In Washington, I’m Wren Elhai for Marketplace.
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