Michael Jackson in 1992
Dave Benett | Getty Images
Despite the negative reviews on the biopic, Michael Jackson’s “Michael” had a record-breaking opening weekend, with the soundtrack’s songs topping Spotify charts.
Last week Kalshi opened a contract about which artist will have the top song on the Spotify Global ranking this month, and by Sunday night, traders thought Jackson had an 86% chance to “beat it” against other artists.
The biopic released on April 24, the same day five siblings filed a lawsuit alleging Jackson sexually assaulted them. The movie ranks 39% on Rotten Tomatoes, with film critics labeling it as “bland” and overlooking the allegations.
The criticism failed to influence Jackson’s catalog, with hits like “Billie Jean,” “Don’t Stop ‘Til You Get Enough” and “Human Nature” in the Top 20 of the Global Songs playlist on Spotify. Those songs were also featured in the movie.
Jackson’s monthly listener count on Spotify was just over 68 million on April 20, according to the Hollywood Reporter. It hit over 87 million as of Thursday.
Kalshi traders predicted the best chances for Jackson to top the Spotify charts on Sunday and Monday, roughly a week after the movie was released. Jackson’s chances surged from 14% to over 50% on May 2.
As of Thursday, Jackson sits at roughly 53% on having the No. 1 song this month with artists like Drake and Olivia Rodrigo leading.
Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.