Hit Christmas songs continues to deliver major financial rewards for artists decades after its release, with festive favourites generating millions of pounds each year.
Music industry figures show that a single successful Christmas track can provide performers and songwriters with a dependable annual income well into the future.
Mariah Carey remains the highest earner from festive music thanks to her song All I Want for Christmas Is You.
The track was released in 1994 and has become one of the most-played Christmas songs worldwide.
Industry estimates cited by Forbes and The Economist suggest Ms Carey earns between £1.8million and £2.24million in royalties from the song each year.
The track has repeatedly topped streaming charts every December and is regularly licensed for advertising and commercial use.
By 2017, the song had generated more than £44.8million in total revenue since its release.
Ms Carey co-wrote the track with Walter Afanasieff, who also receives a share of the royalties.
British band Slade also continue to earn significant sums from their festive hit Merry Christmas Everybody.
The song was released in 1973 and reached number one in the UK singles chart the same year.
Mariah Carey remains the highest earner from festive music thanks to her song All I Want for Christmas Is You
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Songwriter and lead singer Noddy Holder, who co-wrote the track with Jim Lea, is estimated to earn around £1million annually from the song.
December remains the strongest month for earnings due to consistent radio airplay and streaming.
Media estimates reported by The Sun suggest the song has generated around £50million in total revenue over its lifetime.
The track continues to re-enter the UK charts each year during the festive period.
Wham!’s Last Christmas remains one of the most played Christmas songs globally.
George Michael wrote the song in 1984, with the single famously reaching number two in the UK charts.
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The top spot was held by Band Aid’s Do They Know It’s Christmas?
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The song was held off the top spot by Band Aid’s Do They Know It’s Christmas?, which Mr Michael also performed on.
Industry estimates place the annual royalties from Last Christmas at around £300,000.
The song is consistently ranked among the highest-earning Christmas tracks in the UK.
When the single was released, Wham! donated all proceeds to the Ethiopian famine appeal.
Following George Michael’s death on December 25 2016, aged 53, his estate continued the practice of donating royalties to charity.
All income from the song continues to be passed on to charitable causes.
Roy Wood also earns a significant annual income from his festive song I Wish It Could Be Christmas Everyday.
The track was released in 1973 by his band Wizzard.
Industry estimates suggest the song generates around £180,000 in royalties each year.
It was released on the same day as Slade’s Merry Christmas Everybody.
Both songs continue to chart regularly during the festive season.
I Wish It Could Be Christmas Everyday has appeared in the UK charts every year since 2007.
The song has already returned to the top 40 during the current festive period.
Shakin’ Stevens earns an estimated £10,000 per year from his 1985 hit Merry Christmas Everyone.
The majority of the royalties from the song go to its lyricist Bob Heatlie.
Industry figures suggest Heatlie earns around £130,000 annually from the track.
Festive songs benefit from repeated annual exposure, unlike most chart releases
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Royalty earnings typically come from streaming, radio play, downloads and licensing agreements.
Festive songs benefit from repeated annual exposure, unlike most chart releases.
Music analysts say this makes Christmas hits among the most valuable assets in popular music.
Once established, successful festive tracks often generate income for multiple generations.
As streaming continues to dominate music consumption, royalty revenues from Christmas classics remain stable.
Industry experts expect established festive songs to continue generating significant earnings for years to come.