Podcast Summary: Kat on the Loose – LEGENDS LIVE FOREVER with Mark Roesler CEO CMG Worldwide
Host: Kat Zammuto
Guest: Mark Roesler, CEO of CMG Worldwide
Release Date: February 5, 2025
Duration: Approximately 39 minutes
1. Introduction to Mark Roesler and CMG Worldwide [00:00 – 02:37]
Kat Zammuto welcomes listeners to a special episode featuring Mark Roesler, the founder and chairman of CMG Celebrity Management Group Worldwide. Mark's company serves as the exclusive business agent for over 300 of the world's most recognizable celebrities, many of whom are deceased. Highlighting his mission to protect and monetize the intellectual property of these personalities, Kat emphasizes the significance of Mark's work in preserving the legacies of icons like James Dean, Elizabeth Taylor, Marilyn Monroe, Jackie Robinson, Ella Fitzgerald, Maria Callas, Aaliyah, Neil Armstrong, Malcolm X, and Albert Einstein.
Notable Quote:
Mark Roesler: "In the 37 years that I’ve been representing over 1500 of the world’s most famous personalities, we have positioned our company as the dominant force in the evolving intellectual property arena." [00:45]
2. Understanding Intellectual Property Rights and Celebrity Legacies [22:30 – 39:12]
After a brief interlude of advertisements, the conversation resumes with Mark delving into the complexities of intellectual property (IP) rights as they pertain to celebrities. He explains the concept of the "right of publicity," which allows individuals to protect their name, likeness, signature, and voice. Mark elaborates on how these rights vary by state and can extend up to 100 years posthumously, depending on jurisdiction.
Notable Quote:
Mark Roesler: "The right of publicity recognizes the goodwill and value in your name and likeness, which is the most effective form of protection." [10:25]
a. The Mechanics of Right of Publicity
Mark discusses how the "right of publicity" is crucial for maintaining a celebrity’s brand and controlling how their image is used commercially. He highlights the challenges of varying laws across states, noting that while California grants 70 years of protection post-death, other states like Indiana offer up to 100 years.
Notable Quote:
Mark Roesler: "Some states, like Indiana, allow protection for up to 100 years after someone dies, while others, like California, set it at 70 years." [13:19]
b. Monetization and Estate Planning
The discussion shifts to how intellectual property can continue to generate revenue after a celebrity's death. Mark clarifies that while some personalities may see increased earnings posthumously, typically, a celebrity's IP loses about 10% of its value after death, based on CMG’s extensive data.
Notable Quote:
Mark Roesler: "Our data shows that a celebrity does lose about 10% of their intellectual property right value after their death." [16:20]
c. Case Studies: O.J. Simpson and Princess Diana
Mark shares insights from notable cases he has handled, including his involvement in the O.J. Simpson civil trial, where his valuation of Simpson's golf clubs contributed to a $33.5 million verdict. He also recounts his experience representing Princess Diana's estate, managing the surge in interest and monetization following her untimely death.
Notable Quote:
Mark Roesler: "When Princess Diana passed away, we began representing her estate to control the various uses of her image and generate substantial revenue for the client." [35:33]
d. The Role of AI and Future Challenges
Addressing the impact of modern technology, Mark discusses how advancements like AI and virtual reality are transforming the management of celebrity legacies. While these technologies offer new avenues for interacting with a celebrity's persona, they also present challenges in controlling unauthorized recreations.
Notable Quote:
Mark Roesler: "AI allows for instant research and scriptwriting based on a celebrity’s history, but it also makes unauthorized recreations more feasible, which we must manage appropriately." [34:07]
e. Valuation and Tax Implications
Mark explains the significance of accurately valuing a celebrity’s intellectual property, especially concerning estate planning and taxation. He notes that IP can constitute a substantial portion of a celebrity’s estate, sometimes subjecting it to high tax rates upon death.
Notable Quote:
Mark Roesler: "If a celebrity has $100 million worth of intangible intellectual property, they could face up to $50 million in taxes at death." [28:00]
3. Managing and Showcasing Memorabilia [37:03 – 39:12]
During a tour of his Beverly Hills office, Mark showcases the extensive collection of priceless memorabilia housed by CMG Worldwide. Items include original Michael Jackson costumes from the Moonwalker music video and other rare artifacts from iconic personalities. He emphasizes the emotional and financial value of these pieces, estimating the collection to be worth tens of millions of dollars.
Notable Quote:
Mark Roesler: "All of it is irreplaceable, and it's very emotional to be near these pieces. It's unbelievable to see items like Michael Jackson's original sweater and Marilyn Monroe's skirts." [37:48]
4. Closing Thoughts and Inspirational Insights [39:02 – 39:12]
As the episode concludes, Mark reflects on the invaluable lessons learned from his interactions with various celebrities. He shares an inspiring excerpt from his book, Brands that Never Die, highlighting how his clients’ dedication to their dreams allowed them to live fulfilling lives.
Notable Quote:
Mark Roesler: "One of the most invaluable lessons I learned from my celebrity clients is that they followed their dreams and lived their lives to the fullest." [38:35]
Final Remarks
Kat encourages listeners to watch the video version of the episode on the Kat on the Loose YouTube channel to experience the full tour of Mark’s Beverly Hills office and view the showcased memorabilia. She thanks Mark for sharing his expertise and insights, emphasizing the importance of protecting and celebrating the legacies of legendary figures.
Notable Quote:
Mark Roesler: "Thank you so much. It was a huge honor to be on your show." [38:46]
Additional Resources:
- Book Mentioned: Brands that Never Die by Mark Roesler
- YouTube: Kat on the Loose Show – LEGENDS LIVE FOREVER with Mark Roesler
- Company Website: CMG Worldwide
This episode offers an in-depth look into the intricate world of managing and preserving the legacies of some of the most iconic figures in history. Through Mark Roesler's expertise, listeners gain valuable insights into the legal, financial, and emotional aspects of maintaining a celebrity's enduring brand.