The festive season isn’t just about decorations and warm fires for Mariah Carey; it’s a time of colossal royalty checks, all thanks to her timeless Christmas classic, “All I Want For Christmas Is You.” As the airwaves fill with its cheerful melody from mid-November to Christmas day, the song continues to be an unwavering source of income for Carey, prompting the question: How much does she actually make each December, and what’s the total value generated by this holiday anthem?
Creating a Christmas Classic: In 1994, Mariah Carey, then basking in the success of her album “Music Box,” faced an unexpected proposition from her husband and Sony Music executive Chairman, Tommy Mottola. Despite her reservations, Mottola envisioned a Christmas album as Carey’s next venture. Against the odds, Mariah, along with her longtime collaborator Walter Afanasieff, crafted the now-iconic “Merry Christmas” album, featuring the hit single “All I Want For Christmas Is You.”
The 15-Minute Miracle: During a summer session in August 1994, Mariah and Walter, driven by Mottola’s insistence on an original Christmas song, found themselves in The Hit Factory in Manhattan. In a stroke of magic or luck, within less than 15 minutes, they composed the lyrics and melody for “All I Want For Christmas Is You.” The album, released on October 28, 1994, sold 15 million copies globally, significantly fueled by this festive anthem.
Royalties and Asset Value: Fast forward to today, and “All I Want For Christmas Is You” has sold over 16 million singles worldwide, ranking as the 12th best-selling single in music history and the best-selling modern-day Christmas song. The song’s overall royalties have surpassed $80 million, with Mariah Carey and Walter Afanasieff reaping the lion’s share.
Every December, the song continues to bring in substantial royalties. Estimates range from $600,000 to $1.2 million during this festive period. Taking the low end, it’s safe to say the song generates $2-4 million in royalties each December. But the story doesn’t end there; if the song’s rights were ever offered for sale, it could command a 30-40X multiple of its annual revenue, potentially making it a $60 million asset.
The Gift That Keeps on Giving: In the grand scheme of Mariah Carey’s $350 million net worth, this Christmas anthem stands out as a gift that keeps on giving. The song’s enduring popularity, coupled with its financial prowess, solidifies its place as a timeless holiday classic and a lucrative asset for its creators.
