SKF NOTE: I understand why musicians are making these deals, but still, I hate to see it happening. It truly is the end of an era when musicians could establish annuities based on their royalties.
Sept. 29, 2021
Phil Collins and Genesis Bandmates Sell Music Rights for Over $300 Million
Concord to buy solo and group works by English rocker and other band members
Take a look at Phil Collins now. The English rocker and his Genesis bandmates have agreed to sell a bundle of their music rights to Concord Music Group Inc., according to the company.
The megadeal—valued at over $300 million, according to people familiar with the transaction—includes the publishing copyrights and a mix of recorded music income streams and masters of Mr. Collins, Mike Rutherford and Tony Banks‘ individual careers and work as the progressive rock group Genesis.
Full story – https://tinyurl.com/4yrc374p