You could be forgiven for thinking that Slade's days of raking in a small fortune were over. In their 1970s heyday, the dulcet tones of Noddy Holder ensured they could live the high life. But now, you might have thought that their music-related income would be somewhat more modest.
But you'd be wrong, because every year the royalties from Merry Christmas Everybody make the band an incredible sum. And they're not the only ones with a hefty annual royalty paycheck after Christmas.
How it worksRoyalties are collected on behalf of artists every time their song is used. It means that each time the song comes on the radio, it is played in a shop, or it is sold on a Christmas compilation album, if the band wrote the song, they'll get a certain amount of the cash.
Even if they didn't write it - and sang someone else's work - they'll be paid whenever a CD is sold or a track downloaded.
In 'About A Boy' Hugh Grant's character was said to live entirely off the royalties from one hit - Santa's Super Sleigh - and it appears that this would be perfectly possible.
The biggest RoyaltiesPresent-buying website Prezzybox.com has estimated that Slade has already made an astonishing £512,000 this year from the royalties to 'Merry Christmas Everybody' - which puts them top of the festive royalties table.
These figures were calculated before the festive season kicked off in earnest, so the website claims that Slade could make £800,000 from the track by the end of the year.
The full top ten:1. Slade – 'Merry Xmas Everybody' £512,000
2. Pogues – Fairytale Of New York' £386,270
3. Mariah Carey – 'All I Want For Christmas Is You' £347,615
4. Wham! – 'Last Christmas' £301,622
5. Cliff Richard – 'Mistletoe & Wine' £98,408
6. Band Aid – 'Do They Know It's Christmas?' £78,030
7. Shakin' Stevens – 'Merry Christmas Everyone' £53,834
8. Pretenders – '2000 Miles' £45,344
9. East 17 – 'Stay Another Day' £30,219
10. Jona Lewie – 'Stop The Cavalry' £13,25
Even those who don't make the list, can earn an impressive amount. This morning Justin Hawkins told Radio 2 that his accountant had told him that making the Christmas track 'Christmas Time (Don't Let the Bells End)', was the smartest thing the band ever did.
However, a Christmas track isn't always an earner for life, because it also depends on the deal the artist struck with their record company. According to the Daily Mail, Boney M singer Liz Mitchell says she has hardly made anything from the track 'Mary's Boy Child', because of the deal she struck at the time.