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Elvis Presley at 69: Richer than ever
By Alanna
Nash • Bankrate.com
However, in 1980, a court appointed a guardian
ad litem to look into Parker's business dealings on behalf of Elvis'
young daughter, Lisa Marie Presley, and two years later ordered the
estate to challenge Parker's hold. Graceland was loath to do so, not
only for the certain financial drain, but also because Parker was
such a crafty character, and would likely make a legal battle long
and difficult.
"Let's put it this way, it was very intimidating,"
says Priscilla. "He had definite ideas of how to run the quote-unquote
business, and he was very fixed in his ideas. He was definitely
a force to contend with."
The estate and Parker eventually came to an out-of-court
settlement, which eliminated the Colonel's future share of Elvis'
income, and prevented him from commercially exploiting the Presley
name for five years. In June 1982, Priscilla opened the doors of
Graceland to the public, and helped build Elvis Presley Enterprises
into a $15 million-a-year business.
"Like Scarlett O'Hara," Priscilla says,
"I had to save Tara. The Colonel's philosophy was to keep Elvis
separated from his fans. My philosophy was to reach the most people
possible. It's probably a woman's touch."
While Priscilla is often derided by Elvis fan clubs
-- they hold a variety of grudges against her, from divorcing their
idol to trying to regulate the fan club -- she deserves a lot of
credit for where the Elvis industry is today, says Nigel Patterson,
president of the Australia-based Elvis
Information Network, and head of the coalition of Australian
Elvis Fan Clubs.
Mixed stream of Elvis income
"Had she not had the foresight to open Graceland as a tourist
attraction, the level of interest in Elvis would be less today.
The integrated mix of tourism, new releases, a robust fan club network,
and savvy marketing ... ensures Elvis Presley is 'alive' at a level
higher than any other deceased celebrity, and of most celebrities
still with us," Patterson says.
Still, he insists EPE would not be as successful if
not for the business acumen of Jack Soden, EPE's chief executive.
In the past two years, 35-year-old Lisa Marie, Presley's
sole heir and chairman of the board of EPE, has become more involved
in the decision-making process.
"As a member of a younger generation, she injects
more contemporary views and ideas into how to promote Elvis and
maintain Graceland as a premier tourist attraction, with a spin-off
effect of wider interest in Elvis," says Patterson. "The
fact that not a single day goes by when you don't see a reference
to Elvis- -- his name, image, likeness, or icon -- in the media
or society, is testament to Elvis' incredible impact. Elvis literally
is everywhere."
Keeping Elvis before a wider audience -- especially
a younger one -- is paramount on EPE's priority list, since for
the past three years, the estate has calculated that at least 53
percent of Elvis' fan base is 35 or younger. That's why EPE cooperated
with the 2002 Disney movie "Lilo & Stitch," a huge
hit with youngsters, and put their stamp of approval on the dance
remix of last year's "A Little Less Conversation." Both
projects served to keep Presley contemporary, even as his jumpsuits
of the '70s date him.
Skinny Elvis only, please
For that reason, and because the bloated Elvis of his latter years
is an image EPE hopes everyone will someday forget, EPE has adopted
a policy that "The King" may be depicted only in his pre-1973
form -- that is, trim and handsome, says Burk. "Elvis is a
marketing product now, not so much a human being, and I don't say
that harshly."
While Priscilla and the board of directors have gone
a long way to license memorabilia in good taste -- doing away with
such tacky items as vials of "Elvis Sweat" and grass allegedly
plucked from the Graceland lawn -- the estate is beefing up the
role of the gift shops in the overall EPE economy.
"The estate is forever looking for new products
to be sold in its shops," says Burk. "In addition, far
more products that are licensed to sell to the general public never
see those shelves."
At least some of those will doubtless be shipped overseas
in 2004, when Memphis joins with the Beatles' hometown of Liverpool,
England, in celebrating both the 50th anniversary of Elvis' first
release and rock 'n' roll in general. Dozens of projects are planned
for the year, from a Thanksgiving television special, to books,
to updated DVDs of Elvis' most celebrated TV performances, to a
new compilation of Elvis' Sun Studio recordings. That's a big a
hunka, hunka love for the man from Memphis. Even people who look
like him will likely profit.
"Aside from the official Elvis industry, there
is a thriving impersonator business and a bourgeoning underground
Elvis market," reports Patterson. "Not bad for a man who
has been dead for more than a quarter of a century."
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