Phil Collins and two members of the band Genesis sell a catalog of songs for 300 million dollars
Phil Collins and his bandmates Genesis have sold the rights to their music in in a deal worth $300m (£269m).
Concord Music, which bought the rights, has said the sale included Collins' hit solo albums No Jacket Required and...But Seriously!
Although he didn't provide a figure , the Wall Street Journal quoted $300 million.
That would make it one of the biggest deals of its kind, putting Collins and Genesis behind Bob Dylan and Bruce Springsteen.
These two rock legends have sold their catalogs in recent deals worth between $400 and $500 million. Neil Young also earned $150 million selling a 50% share of his music in 2021.
Stars selling their catalogs have become a major trend in the music industry in recent years, with artists like Blondie, Shakira, Mark Ronson, Chic, Tina Turner and The Killers also handing over control of their songs in exchange for large lump sums.
For them, the agreements provide immediate financial security, while ensuring that their music does not fall into messy litigation after their death.
In return, investors - which range from record labels to hedge funds - earn money from all future royalties generated from sales, streams and licensing agreements.
Phil Collins and his bandmates Genesis have sold the rights to their music in in a deal worth $300m (£269m).
Concord Music, which bought the rights, has said the sale included Collins' hit solo albums No Jacket Required and...But Seriously!
Although he didn't provide a figure , the Wall Street Journal quoted $300 million.
That would make it one of the biggest deals of its kind, putting Collins and Genesis behind Bob Dylan and Bruce Springsteen.
These two rock legends have sold their catalogs in recent deals worth between $400 and $500 million. Neil Young also earned $150 million selling a 50% share of his music in 2021.
Stars selling their catalogs have become a major trend in the music industry in recent years, with artists like Blondie, Shakira, Mark Ronson, Chic, Tina Turner and The Killers also handing over control of their songs in exchange for large lump sums.
For them, the agreements provide immediate financial security, while ensuring that their music does not fall into messy litigation after their death.
In return, investors - which range from record labels to hedge funds - earn money from all future royalties generated from sales, streams and licensing agreements.
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