Mariah Carey’s Holiday Classic Continues to Generate Millions in Royalties After 30 Years

Mariah Carey’s iconic holiday hit, “All I Want for Christmas Is You,” continues to rake in millions each year, making it one of the most lucrative songs in music history. Industry analysts estimate that Carey earned between $2.7 million and $3.3 million in 2022 alone from this single track.

On Wednesday, CNBC cited estimates from Billboard, highlighting the song’s continuing significant financial impact.

These earnings primarily come from digital downloads and streaming, excluding higher-paying sources like TV specials and performances. CNBC also notes that exact figures are difficult to pinpoint, as Carey and her record label have never disclosed the details of their copyright agreements.

Since its release in 1994, the song has remained a fan favorite and experienced a resurgence in popularity. It has topped charts year after year, likely boosting Carey’s earnings even further.

Spotify recently announced that Mariah Carey’s “All I Want for Christmas Is You” has surpassed 2 billion streams, making it the first Christmas song to reach this incredible milestone. Since 2016, the track has consistently ranked as the most-streamed holiday song on Spotify each Christmas season.

According to Luminate, a leading music industry analytics firm, the song’s U.S. audio streams totaled 249 million in 2023, marking a 49% increase from 167 million streams in 2019.

George Howard, a Berklee College of Music professor and former president of the independent label Rykodisc, describes the song as a “money machine” and an “extraordinary phenomenon.”

Howard estimates that the track generates between $2 million and $4 million annually.

Music industry law firm Manatt, Phelps & Phillips estimates even higher annual revenue, projecting $3.4 million in earnings each year and an impressive total of around $103 million over the past 30 years.

While Carey’s share of these earnings is significant, it’s important to note that she doesn’t receive all of the revenue. Record labels and other stakeholders take a sizable portion of the earnings.

The U.S. music royalty system is notoriously complex. Still, because Carey not only performed the song but also wrote, composed, and produced it, she likely receives a larger share than a typical performer.

Industry experts predict that “All I Want for Christmas Is You” will continue to be a major source of income for years to come, solidifying its place as a holiday classic that keeps giving.