Jem Aswad Senior Music Editor Bruce Springsteen and Bob Dylan selling their catalogs for $600 million, Genesis and Phil Collins for $300 million, Stevie Nicks for $100 million — over the past few years dozens of artists have sold the rights to their music catalogs for eight or nine figures. There are all kinds of reasons why this is happening: Artists are getting older and are basically estate planning, the pandemic proved that copyrights can be a great investment, and the booming market is bringing more and more buyers and sellers to the table. But what do you do with that catalog once you’ve bought it? The old approach was to basically to sit and wait for the songs to make money — through radio, sales, use in films or TV shows or advertising campaigns, Broadway shows and lots of other ways.
Concord acquire Genesis catalogue in $300 million deal
30.09.2022 - 15:13 / completemusicupdate.com
The latest big bucks music rights deal has been confirmed, with Concord acquiring a stack of copyrights and revenue rights from good old Genesis.According to the Wall Street Journal, the deal is valued at over $300 million, and gets Concord ownership of song rights, and certain recording rights and revenues, from all three members of the band’s classic line-up: Phil Collins, Mike Rutherford and Tony Banks. That includes music from the three musicians’ respective solo careers as well as Genesis itself.Concord was already the administrator of the song catalogues of Collins and Genesis, and the music firm’s President Bob Valentine confirmed that it was via that existing relationship that talks regarding a big old catalogue acquisition began.Confirming the deal had been done, Genesis manager Tony Smith of TSPM said: “This is a catalogue of music that we are all extremely proud of and it means a great deal to many fans.
Concord is one of the global leaders in music with whom we have been working for many years on the publishing side, [a relationship we are now] extending to the whole recording catalogue together with publishing. We have been impressed by their good judgement and sensibilities as to the wishes of the artists”.Although under the deal Concord gets an interest in the Genesis recordings, some other labels will also continue to be involved on that side.
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Genesis and Phil Collins sell song rights for $300m as dollar buyers cash in on weak pound
tumbling pound has encouraged dollar buyers to snap up hit songs with Phil Collins and Genesis the latest big names to cash in on their back catalogue with a $300m (£270m) deal. Collins, Mike Rutherford and Tony Banks sold the rights to hit songs including “Mama”, “Land of Confusion” and “Invisible Touch” to the US-based Concord Music Group.
Phil Collins and Genesis sell music rights for $300,000,000
Phil Collins and Genesis have sold a large chunk of their back catalogue for a whopping $300million (£268m). Concord Music Group has landed the publishing rights and master recordings for most of prog rock legends Genesis’ catalogue, as well as a portion of the group’s recorded music income streams and masters. The sale also includes Collins’ solo hits In the Air Tonight, You’ll Be In My Heart, and Against All Odds.
Phil Collins and Genesis sell publishing rights and masters for $300 million
It's been announced that Phil Collins and his fellow members of the rock band Genesis have sold a portion of the group's songs - including their publishing rights and master recordings - in a deal valued at more than $300 million.
Phill Collins and Genesis sell publishing rights and master recordings for $300million
Phil Collins and his Genesis bandmates have sold a portion of their songs’ assets to Concord Music Group, including the publishing rights and master recordings for much of Genesis’ music.According to the Wall Street Journal, the deal was valued at more than $300million and will also include master recordings of songs from throughout Collins’ solo career, such as ‘In the Air Tonight’, ‘You’ll Be In My Heart’ and ‘Against All Odds’, and his popular covers of Diane & Annita’s ‘A Groovy Kind Of Love’ and ‘You Can’t Hurry Love’ by the Supremes.Genesis recordings within the package will likely include hits such as ‘Invisible Touch’, ‘That’s All’, ‘Land Of Confusion’ and ‘Follow You, Follow Me’. The deal also includes material that Genesis guitarist Mike Rutherford released with his group, Mike & the Mechanics.Speaking to WSJ, Concord president Bob Valentine said they were aiming to bring Collins and Genesis’ back catalogue to a younger generation of listeners.
Phil Collins and Genesis Sell Catalogs to Concord for $300 Million
Jem Aswad Senior Music Editor Phil Collins and his Genesis bandmates Tony Banks and Mike Rutherford have agreed to sell their publishing copyrights and “a mix of recorded music-income streams” to Concord Music Group, the company confirmed to the Wall Street Journal on Thursday. Sources told the publication the deal was for upward of $300 million. The deal includes the solo material of all three, most notably Collins’ multiplatinum solo albums and Rutherford’s band Mike & the Mechanics, which achieved chart success in the 1980s. The catalogs of Peter Gabriel and other former members of Genesis were not included in the deal. A rep for Concord tells Variety an official announcement will be made Friday morning.
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