Phil Collins and Genesis sell music rights for $300,000,000

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.

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R Kelly has been accused of fraudulently selling his music rights to a childhood friend in order to avoid that intellectual property from being used to cover the damages he was ordered to pay as a result of civil litigation over allegations of sexual abuse.The musician was sued by Heather Williams in February 2019, a month after the screening of the ‘Surviving R Kelly’ programme that prompted various new criminal investigations into the many allegations of sexual abuse that had been made against the star over the years.Those criminal investigations, of course, have resulted in two high profile trials to date, in both Chicago and New York. In the former he was found guilty of enticing minors to engage in criminal sexual activity and of filming that abuse.

Ramones singer Joey Ramone have sold a stake of his publishing rights for $10million (£8.9m).The sale comes as part of a new partnership between the Primary Wave Music publishing group and investment company Brookfield Asset Management.As the Wall Street Journal reports, the deal also includes non-exclusive rights to Ramone’s likeness and name. Included in the publishing deal are songwriting credits on many Ramones hits including ‘Judy Is A Punk’ and ‘I Wanna Be Sedated’.In a statement, the singer’s brother, Mitchel Hyman, said: “I’m thoroughly convinced of their eagerness to perpetuate his legacy, and their sincerity about doing it in a way that will never compromise his credibility.

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.

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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.

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.