How much does Mariah Carey make on ‘All I Want for Christmas is You’?

“I don’t want a lot for Christmas / All I need is one thing / The answer to just one question / Would you please give me a quote for Mariah Carey’s song royalties?”

No, my makeshift lyrics aren’t as catchy as the opening line of Carey’s “All I Want for Christmas Is You.” The 1994 jingle became virtually ubiquitous on the airwaves around the holiday season.

But they’re asking questions that probe the black box of music industry economics. That is, how much money does the song’s performer and so-called “Queen of Christmas” Carey make each year?

According to Billboard’s income estimates, she will likely earn between $2.7 million and $3.3 million in 2022 from downloads and on-demand streaming of her songs. Other potential revenue streams, such as Christmas TV specials, are excluded.

But experts say it’s difficult to know the exact amount, largely because the details of Carey’s contracts with her music label and music publisher have not been made public. The pop star’s publicist, Chris Chambers, did not respond to a request for comment sent to his company, The Chamber Group, about her royalties.

“Whatever it is, it’s a lot of money,” says Natasha Chee, a music, entertainment and intellectual property attorney at law firm Donahue Fitzgerald.

“All I Want for Christmas is You” is a huge Christmas hit.

Spotify announced this month that the anthem was the first holiday song to surpass 2 billion streams worldwide. According to Spotify, the song has been the number one song in the world on Christmas Day every year since 2016.

According to Luminate, which tracks music industry data, the song’s popularity is only increasing. The total number of audio streams in the U.S. will rise to 249 million in 2023, up about 49% from 167 million in 2019, according to Luminate, which tracks music industry data.

(Billboard estimates that as of Dec. 12, the song’s total U.S. streams this year were down 8% compared to 2023. This is also due to the shortened holiday season from late Thanksgiving. (Experts say it has some influence.)

The song “is a money-making machine,” said George Howard, a professor at Berklee College of Music and former president of the independent record label Rykodisc. “It’s a real phenomenon,” he said.

Howard, who also does consulting work valuing music copyrights, estimates that chart-topping artists earn between $2 million and $4 million in gross annual revenue.

Similarly, music industry law firm Manatt, Phelps & Phillips estimates that hit records generate $3.4 million annually.

The law firm estimates that the song grossed about $103 million over its 30-year life. Manatt, who created Billboard’s royalty calculator, said the projections include global streaming and non-streaming revenue sources.

According to the calculator, the song’s 2 billion worldwide Spotify streams alone generated $9.8 million in royalties.

But Carey only gets a portion of that income.

The music copyright ecosystem is notoriously complex.

Money flows to many contributors: writers, performers, producers, sound mixers, record labels, and more. Experts say the payout for each person could vary from song to song depending on the terms of the contract.

The terms of Carey’s royalty agreement are not publicly known.

Howard said the singer likely earns “a lot more money” than most artists. That’s because Carey has multiple credits on the song, with her listed as not only co-writer and co-producer, but also the sole performer. (Walter Afanasieff is the other co-writer and co-producer.)

Howard said it’s unusual to have so many credits listed. And it’s an important factor in Carey’s final take-home pay.

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Copyright fees for music are different from copyright fees for other works such as books and photographs.

That’s because there are two streams of copyright fees. One is music composition and the other is sound recording, said Jordan Bromley, partner and principal at Manatt Entertainment. He said that the former is like a musical score (composition) placed on a piano, and the latter is like a recorded song that you listen to.

Each has its own royalty structure. Howard said royalties for songwriting go to the songwriter and publisher, while royalties for sound recording go to the performer of the song and his or her label.

Carey “has the copyright to both the song and the sound recording, so he gets paid by both sides,” Howard said.

“She has been paid for six round trips by Sunday,” he said.

Experts say that when a song is played on TV, radio, in a restaurant, in a retail store or in a public place, the song’s author or publisher receives the royalties, not the performer. Howard said the United States is one of the few countries with such rules.

This means that Carey (and her co-writer Afanasyev) will receive a royalty fee each time a cover version of “All I Want for Christmas Is You” is played in the public domain. According to performing rights organization ASCAP, more than 150 performers have covered the song.

According to ASCAP, Carey and Afanasyev have split writing credits with publishers including Universal Music, Sony Music, and Cobalt Songs Music Publishing.

However, Bromley said recording music typically brings in four to five times the income from songwriting.

“Songwriters without record income have a hard time making a living even with hit songs,” he says.

An artist’s share of a label’s record revenue can vary widely, from 20% to 90%, depending on the contract, Bromley said. “All I Want for Christmas Is You” was released by Columbia Records, a subsidiary of Sony Music.

Afanasyev, Sony Music and Cobalt Songs Music Publishing did not respond to requests for comment. Universal Music Publishing Group declined to comment.

Experts point out that while revenue from record sales and licensing can fluctuate widely from year to year, revenue from streaming and performance is more predictable.

According to Billboard, of the estimated $8.5 million in worldwide revenue and publishing royalties earned by All I Want For Christmas In 2022, Carey’s master recording brought in $5.3 million, with the rest Publishing royalties accounted for $3.2 million.

What was Carey’s cut?

According to Billboard estimates, she earned approximately $1.9 million of the master recording income, with her label Sony retaining the remaining $3.4 million.

Carey also earned an estimated $1.6 million in publishing income, assuming she and Afanasyev split the writing 50/50. However, depending on her publishing contract, her take-home pay could be much less, likely in the range of about $795,000 to $1.4 million, Billboard said.

Overall, these estimates suggest that Carey may have earned approximately $2.7 million to $3.3 million from recording and publishing in 2022.

According to Billboard, this does not include revenue from financing the soundtrack for a lucrative TV Christmas special. Cover versions of this song are also excluded.

Manat Entertainment’s Mr Bromley said there would be “huge income generation” for pop stars who were largely “co-branded” at Christmas, including brand endorsements, live performances and deals in cosmetics, homewares, apparel and more. said.

Experts say this song is a gift that keeps on giving for years.

Copyright for works published after January 1, 1978 generally remains in place for the author’s lifetime plus 70 years after the author’s death, said Chee of Donahue Fitzgerald.

For collaborative works with two or more authors, such as “All I Want for Christmas is You,” the rules apply to the last surviving author.

That means Ms. Carey’s estate will collect royalties for decades before the song eventually enters the public domain, she said. The song would then join the ranks of Christmas classics like “Jingle Bells” and “We Wish You A Merry Christmas,” and is free to be shared and modified by the public. .