Phil Collins and his bandmates from Genesis have sold the rights to their music to Concord Music. According to The Wall Street Journal The deal is worth $300 million.
The deal includes songs that Collins recorded in his solo career and the music he created for Genesis with keyboardist Tony Banks and guitarist Mike Rutherford. It also includes solo material by Rutherford and Banks. Recordings of Peter Gabriel, who left Genesis in 1975, are not part of the deal.
Phil Collins became lead singer of the British band after the departure of Peter Gabriel. Genesis scored hits like I Can’t Dance, Land of Confusion and Jesus He Knows Me. Collins also achieved solo success with songs such as In the Air Tonight and Another Day in Paradise.
Concord Music president Bob Valentine says in conversation with The Wall Street Journal that he plans to introduce Collins and Genesis’ music to a new generation. “In the world we live in today with Facebook, Instagram, TikTok and all these things that drive the consumption of older music, there are definitely ways for us as a record company to bring some of this music back to life.”
With the move, Collins and Genesis are following the lead of several other great musicians such as Bob Dylan, Sting and Bruce Springsteen. They also sold their music rights in recent years for several hundred million dollars.
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