By 2012, the royalty payments from "Cats" to the Eliot estate had totalled an estimated $100 million. Valerie Eliot used a portion of this money to establish the literary charity Old Possum's Practical Trust, and to set up the T. S. Eliot Prize which has since become "the most coveted award in poetry". "Cats" also turned things around for the independent British publishing house Faber and Faber. As the publisher of "Old Possum's Book of Practical Cats", royalties of up to £1 million annually kept the then-struggling Faber afloat during the 1980s. Moreover, the musical led to a surge in the sales of Eliot's book. The success of "Cats" led Faber to turn another of their literary properties, Ted Hughes' "The Iron Man", into a 1989 .