Mariah Carey’s 1994 hit, “All I Want for Christmas Is You,” has not only become a holiday classic but also a lucrative revenue stream for the singer. According to Billboard, Carey may have earned between $2.7 million to $3.3 million in 2022 from song downloads and on-demand streaming. The actual figure is difficult to determine due to the non-disclosure of contractual details between Carey and her music label.

The Christmas anthem is a global sensation, being the first-ever holiday song to surpass 2 billion global streams on Spotify. Also, its popularity continues to surge, with total U.S. audio streams rising to 249 million in 2023, a significant increase from 167 million in 2019.

Estimates by music industry experts suggest that the hit song generates between $2 million to $4 million in annual gross revenue. Over its 30-year existence, the song has accumulated approximately $103 million in earnings, making it a significant addition to Carey’s financial portfolio.

However, the singer does not receive all these earnings as the music royalties system is complex with many contributors involved. Despite this, Carey’s multiple song credits make her eligible for a larger share of the revenue. As the sole performer, co-writer, and co-producer, Carey earns from both the songwriting and recording.

In 2022 alone, Carey’s share of the song’s earnings was estimated to be around $2.7 million to $3.3 million, excluding revenue from Christmas TV specials and cover versions of the song.

The song’s earning potential extends beyond Carey’s lifetime. Copyright laws ensure that the song will continue to generate royalties for Carey’s estate for 70 years after her death. Ultimately, the success of “All I Want for Christmas Is You” serves as a testament to the financial potential of creating timeless music.

For those interested in the music industry or investment, Carey’s holiday hit provides a fascinating case study in the economics of the music industry and the lasting financial impact of a well-loved song.