Phil Collins and Genesis sell music catalog for $300 million

Genesis.
Photo: Mark Sagliocco/Getty Images

No, actually it’s not all after the farewell tour. The Wall Street Journal reports that Phil Collins and Genesis sold “a bundle” of their music rights for a whopping $300 million, which includes the majority of their publishing royalties, recorded music revenue streams and masters . Concord Music Group, which bought the rights (as opposed to Hipgnosis, the song fund that just won’t give up), has confirmed that the acquisition includes all solo works by Collins, guitarist Mike Rutherford and smokeshow synth. Tony Banks, in addition to the Genesis discography following the departure of Peter Gabriel. In a statement, the president of Concord Music hinted at wanting to give the trio their own Kate Bush-in-stranger things time as soon as possible. “In the world we live in today with Facebook, Instagram, TikTok, all of these things that are driving the consumption of older music,” he said, “there are definitely ways for us, as as a record company, to bring some of that music back to life.”

The $300 million salary for such a huge catalog of music rights puts Collins and Genesis on the upper echelon of deals. Bruce Springsteen reportedly received a historic $550 million in his 2021 sale, while Bob Dylan reportedly ordered a similar $300 million check in 2020. Neil Young also sold half of his catalog for $150 million. dollars in 2021, he said. was inspired by estate planning. So, yeah, we guess you can say “Sussudio” is just as important as “Like a Rolling Stone.”