Phil Collins’ Manager Targets Catalog Sale Rumors For $200 Million
Newly emerged sources revealed that after many other iconic artists, Genesis’ Phil Collins’ manager is also looking for opportunities to sell Collins’ catalog. His manager stated that he is in the market, yet, some sources say that he is not willing to go below $200 million.
Red Hot Chili Peppers, Bob Dylan, Bruce Springsteen, and many other rockstars have sold their catalogs in the last two years. These certain artists have had a huge impact on the music industry with their songs, albums, and EPs, and earned a fortune to make their living throughout the years.
One of the rockstars that had to sell the rights to his music was CSNY’s, David Crosby. He underwent an unfortunate situation where he couldn’t earn money from streaming services and was on the verge of losing his house due to the pandemic. Hence, he ended up selling his catalog not to end up on the street.
It differs from musician to musician as to why they would sell the rights to their creations. No matter the reason, Genesis’ Phil Collins also took this step and is on the market searching for buyers. Rumor has it that his management wants to make a deal for around $200 million. An email was sent to Billboard by his manager Tony Smith, and he confirmed that it’s true, and that they are considering opportunities, but this shouldn’t be described as ‘shopping’ or ‘being up for sale.’
Here is what Tony Smith said:
“Over the last three or four years, there have been several major deals, with quite a few bidders in the market looking to purchase publishing and recording copyrights, amongst many others, we have been approached on several occasions. While we continue to monitor the market activities as managers, this should not be described as shopping or being up for sale. How people describe the fact of us answering the phone is not within our control or concern.”
Phil Collins undoubtedly contributed to Genesis’ success as well as solidifying his solo career. He sold over 150 million records worldwide and became one of the best-selling artists of all time. The musician is currently not in perfect physical health, and it seems like his performing career is coming to an end. Currently, he still performs with Genesis but cannot play the drums. He performed as a vocalist at the front by using canes to walk or a chair to sit during performances.