Concord Acquires Genesis Member’s Catalog
• Concord has purchased the publishing and recorded music catalogues of Tony Banks, Phil Collins and Mike Rutherford, as well as the publishing and recorded music catalogue from their years in the band Genesis. (Pictured, l-r): Collins, Banks & Rutherford). This announcement continues a recent string of significant acquisition activity coming on the heels of Concord’s purchase of the assets of HitCo Entertainment and the addition of Australian music publisher Native Tongue.
In a career spanning over 50 years, Genesis became one of the biggest-selling groups of all time, releasing 15 original studio albums. Individually, Tony Banks released six albums, Phil Collins eight and Mike Rutherford has released two solo albums as well as nine as Mike + The Mechanics. Their combined record sales, including live albums, movie soundtracks and box sets, are in excess of 250 million copies globally. Their recent The Last Domino? Tour sold out in the UK, US and throughout Europe, making it one of the largest grossing tours of the past year.
“This is a catalogue of music that we are all extremely proud of and it means a great deal to many fans,” said Tony Smith, founder of TSPM and long-time manager of Genesis, Tony Banks, Phil Collins, Mike Rutherford and Mike + The Mechanics. “Concord is one of the global leaders in music with whom we have been working for many years on the publishing side which we are extending to the whole recording catalogue together with publishing; we have been impressed by their good judgment and sensibilities as to the wishes of the artists and we are confident that alongside the respective continued relationships with record labels Warner Music and BMG, we leave the future ownership of the catalogue in their capable hands, safe in the knowledge that the heritage will be protected.”
Concord President Bob Valentine said, “The songs of Tony, Phil and Mike have been the soundtrack to many people’s most important life moments. Everyone at Concord feels the weight of the cultural significance of this remarkable collection of works, and we will strive to ensure that current and future generations of music listeners continue to hear and enjoy them.”
Not included in the acquisition are the participation of Peter Gabriel and Steve Hackett in the early Genesis albums. Concord was advised by Shot Tower Capital, Reed Smith LLP and DLA Piper on this transaction. The Sellers (Tony Banks, Phil Collins and Mike Rutherford) were advised by Hit & Run Music Ltd and Sheridans. [Photo credit: Patrick Balls and Martin Griffin]
