The following is a list of the most expensive albums made with a recorded sum of over $1 million, as well sorted with most money spent in promotional campaigns and album covers. The recording process traditionally requires an investment in studio time and skilled production labor, and the process can be expensive.
In late 1950s, the cost of producing pop albums runs from $3,000 to $7,000. The average cost of producing an album climbed to $15,000 in the 1960s. Early examples of record-breaking expensive albums include Sgt. Pepper's Lonely Hearts Club Band (1967) with a reported sum of £25,000, alongside Tommy (1969) and Pet Sounds (1966) each with a cost of $70,000, as well as unfinished album Smile whose single "Good Vibrations" (1966) alone had a budget between $50,000 and $75,000, more than most entire albums cost in those days. Multiple albums were budgeted with a cost between $350,000 and $500,000 by late 1970s, whereas popular rock albums had an average of $100,000 and as high as $500,000 by the midpoint of the decade. Some albums were produced on a $1 million budget by 1981. Alone Michael Jackson, accountant John McClain estimated a cost of $2.5 million for a singer's record in 1987. Nowadays, according to IFPI, production costs for popular albums are "generally budgeted for at least $200,000, and if much studio time is used, costs can soar well past $350,000". Some artist's sponsorships covered the cost of producing the album, most notoriously Mariah Carey between the Bahamas Board of Tourism with her album Memoirs of an Imperfect Angel (2009).
The first album to cost over $1 million is believed to be Tusk (1979) by Fleetwood Mac. Chinese Democracy (2008) by Guns N' Roses, once included as the most expensive record in the Guinness World Records, probably cost over $1 million per year during its recording sessions from 1998 to 2006. According to Bob Gulla, various commentators have since dubbed it "The Most Expensive Album Never Made". With a cost between $30 and $40 million, Michael Jackson's Invincible (2001) remains the most expensive album ever produced. Both Michael Jackson and Kanye West have multiple appearances, with at least four each.
List of albums by recorded costs
List of albums by promotional budget/campaign cost
Overview
Michael Jackson's HIStory (1995) has the most extensive marketing campaign in popular music history, spent by a record label. Up to that point, a label might spent an average of $2 million in promotional campaigns for artists such as the Rolling Stones, Aerosmith and Madonna, per release. The lattermost, had the biggest Warner Records promotional campaign for an album up to the release of Like a Prayer (1989) with $2 million. In contrast, according to Hank Bordowitz in Dirty Little Secrets of the Record Business (2007), mounting a successful promotional campaign for radio stations can cost between $250,000 and $1 million per song.
Examples of associated campaigns outside record label's efforts include Born This Way (2011) by Lady Gaga, with a reported sum of $3 million provided by Amazon, and Rihanna's sponsorship with Samsung for $25 million which covered the release of her album Anti (2016) and its tour.
List of album covers/packaging by cost
This is a list of record-breaking historical expensive album covers or CD packaging.
Elvis Presley (1956) was at the time of its release the most expensive album cover ever produced. Sgt. Pepper's Lonely Hearts Club Band (1967) The cover, costing £25,000, was reportedly the most expensive cover design up to this time. Most covers up that point had a cost of about £50. Aladdin Sane (1973) was at the time of its release the most expensive album cover ever produced.
Notes
See also
Hollywood accounting
Lists of most expensive items by category
List of most expensive music videos
List of largest music deals
List of most expensive films
References
Book sources
Further reading
Michael Jackson's Ups And Downs (Forbes, 2003) Whose Master's Voice? (1997), pag 233 American Popular Music and Its Business: From 1900 to 1984 (1988) How Lady Gaga Pulled Off a $3 Million Album Launch Party With No Sponsors (The Hollywood Reporter, 2013) How Much Does It Cost To Make A Hit Song? (NPR, 2011) Rap's Most Expensive Albums (HipHopDX, 2017) Kanye West paid $85,000 to put Whitney Houston’s drug-ridden bathroom on the cover of Pusha T’s album (NME, 2018)