Following reports that a deal was in the works, the Wall Street Journal now reports that Phil Collins, Tony Banks and Mike Rutherford — the most commercially successful lineup of Rock and Roll Hall of Famers Genesis — have sold their catalog for a huge payday.
Concord Music Group is the buyer, and sources told the Journal that the deal is worth “upwards of $300 million.” In addition to the publishing copyrights, master recordings and “a mix of recorded music-income streams” of the three artists’ Genesis songs, the deal also includes their solo material.
That means Concord is buying the rights to Phil’s hugely successful solo albums, plus the ’80s hits Rutherford made with his side project Mike + the Mechanics, like “The Living Years,” “All I Need Is a Miracle” and “Silent Running.” The Journal notes that the catalogs of former members of Genesis, like Peter Gabriel, weren’t included in the deal.
Concord’s purchase isn’t surprising, since the company has been administering both Phil’s and Genesis’ publishing since 2017.
Genesis is the latest veteran rock act to cash in on the selling-your-catalog craze. Others who’ve sold their publishing and recorded music rights for millions in the last few years include Bob Dylan, Bruce Springsteen, Neil Young and Stevie Nicks.
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