According to a Wall Street Journal article, PHIL COLLINS AND Genesis have agreed to sell their publishing and master recordings to Concord for a sum in excess of $300 million.
Collins’ solo recordings as well as his work with guitarist Mike Rutherford and keyboardist Tony Banks in Genesis are included in the agreement. Rutherford and Banks both have solo tracks included, however neither do them come from Peter Gabriel’s tenure with Genesis or his solo endeavors.
Bob Valentine, the president of Concord, stated in a Wall Street Journal interview that he intended to introduce Collins and Genesis’ music to a new audience. “There are definitely methods for us as a record business to bring some of this music back to life,” he said, referencing the “environment we live in today with Facebook, Instagram, TikTok, all these things that drive consumption of older music.”
Many of Collins’ most famous songs come from his solo career, including “In The Air Tonight,” “Against All Odds,” “Sussudio,” “Take Me Home,” and “Another Day In Paradise.” Genesis hits include “Invisible Touch,” “Land of Confusion,” “I Can’t Dance,” “Follow You, Follow Me,” and “That’s All.” Collins’ most recent collection of original songs was 2002’s Testify. Genesis hasn’t released an album with Collins since 1991’s We Can’t Dance.
Collins has seen considerable ups and downs in his personal life as well as serious health issues, an alcohol addiction that almost cost him his life, over the previous 20 years. After a 2007 Genesis reunion tour, Gabriel had a significant sabbatical from touring, but in 2017, he resumed solo performances with his son Nic on drums. He collaborated with Genesis one more for the Last Domino last year? tour.
Collins joins a fairly lengthy list of well-known musicians who have recently sold their publishing. It features David Crosby, Neil Young, Lindsey Buckingham, Bruce Springsteen, Paul Simon, and Bob Dylan. Although exact earnings data are rarely made public, the biggest stars have reportedly been making more than $300 million annually. A catalog typically sells for about ten times what it makes in a typical year.
On his website, Neil Young responded to fans’ inquiries regarding his decision to sell by saying, “Time is passing.” “I want to talk about my family and my art. A good father makes plans for how to raise his kids.”
These transactions are also taking place as a result of intense competition between the several new businesses that have entered this sector. According to investor Merck Mercuriadis, “Once a song becomes part of the fabric of our culture, it almost always stays part of the fabric of our society.” When you consider those qualities of predictability and dependability, those are the same reasons people invest in things like gold and oil. “If you were listening to a Nirvana record 25 years ago, odds are you’ll still be listening to that record when you’re 42 or 60.”