Pop musician Phil Collins and pop group Genesis have sold their music rights to the American Concord Music Group. That reports The Wall Street Journal Thursday night. The price is lower than what Bruce Springsteen got for his music ($500 million) and about as high as the rights to Bob Dylan’s 600 songs: Collins and bandmates earned about $300 million from the deal, according to the American newspaper ( converted approximately 307 million euros).
Songs by Peter Gabriel, who left the pop band in 1975, are not part of the deal. However, the purchased songs include recordings from Collins’ solo career and the music he made for Genesis. Material from Tony Banks, the keyboardist of Genesis, and Mike Rutherford, the guitarist, are now also in the possession of the American record label.
TikTok, Instagram and Facebook: Concord Music wants to introduce the music of Collins and Genesis to a new generation in modern ways. “As a record company, there are certainly ways for us to bring some of this music back to life.”
The 71-year-old Collins, who is a producer, actor, lead singer and solo artist in addition to being a drummer, replaced Gabriel in the 1970s and scored many hits. Genesis’ song ‘I Can’t Dance’ from 1992 became a number 1 hit in the Netherlands. Collins wrote the music for the famous Disney animated film in 1999 Tarzan.