There’s no denying that Fairytale of New York is a Christmas classic, becoming a reliable tune for the festive period – which of course comes with a nice annual bonus.
The Pogues, fronted by Shane MacGowan, released the alternative hit in 1987 as a duet with the late Kirsty MacColl but it has never managed to grab the prestige of number one.
After three decades on the radio, this year the song is the bookies’ favourite as it vies for the festive top spot against other classics, following the death of MacGowan.
Before his death, the singer lived a quiet life in Tipperary, with an estimated net worth of $5 million (£3.9 million) thanks to his impressive discography and that one persistent tune.
Fairytale of New York may have had some controversy over the years with lyrics changed but its place in the heart of the British public has never wavered.
As the nation mourns singer MacGowan, it is estimated the annual earnings from The Pogues’ and MacColl’s festive song could be more than doubled.
How much do The Pogues earn at Christmas?
‘As The Pogues’ biggest hit, it already earns substantial annual royalties – likely over £200,000 – from radio play, streaming and sync licensing deals,’ revealed music copyright lawyer Brad Banias to Metro.co.uk.
He continued: ‘Given the major streaming boost this year, industry experts estimate The Pogues and the MacColl estate could see total royalties exceeding £500,000.
‘If it finally hits number one, additional publicity and 2023 longevity would further increase revenue. I’d expect a 10-20% royalty rate split between the band, songwriters MacGowan/Finer and Kirsty MacColl’s estate.’
A royalty is a recurring payment for permission to use a song, with a percentage given to all those involved – so the more times it is played, the more money an artist can make.
Brad, a founding partner of Banias Law and Pro Se Pro, added: ‘The law protects songs for the author’s life plus 70 years, allowing for long-term royalty generation. This ensures their family earns money even after the songwriter passes away.’
He continued: ‘So £100,000+ apiece is plausible if the song maintains popularity. The MacColl estate may benefit further as interest drives exploration of her catalogue.
‘Christmas classics have incredible earning potential in the digital age through recurrent annual plays, public performances and sync opportunities.’
While the estates of MacGowan and MacColl might see their annual revenue stream double this year, it’s still less than the estimated royalties of Mariah Carey.
Their chart competition earns $600,000 (£473,000) every single year from All I Want for Christmas is You, and that’s not including her many other media appearances and festive money makers.
Wham’s Last Christmas was estimated to see a healthy £350,000 annually by Brad, but he notes a number one slot for the year can impact the royalties for a long time after.
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