Genesis and Phill Collins sell publishing rights for $300 million
Phil Collins and Genesis bandmates sold publishing rights and master recordings to Concord Music Group.
According to the Wall Street Journal, the deal was valued at more than $300million and will include master recordings of songs from 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 the Supremes’ ‘You Can’t Hurry Love.
Invisible Touch, That’s All, Land of Confusion, and Follow You, Follow Me are likely included. The contract contains Mike Rutherford’s Mike & the Mechanics work.
Concord president Bob Valentine told WSJ they want to introduce Collins and Genesis to a younger audience. “With Facebook, Instagram, and TikTok driving older music consumption, we can bring some of this music back to life,” Valentine added.
Collins and Genesis’ choice to sell their compositions follows several other high-profile musicians selling their publication rights in recent years, such as Bruce Springsteen, who last year sold his masters and publishing rights to Sony Music for $500 million.
Genesis’ final concert was in March. Collins, Rutherford, and Banks completed ‘The Last Domino? sold out London’s O2 Arena.