Phil Collins and Genesis sell the music rights for 300 million

AFP

News from the NOStoday, 01:25

Singer and drummer Phil Collins and fellow Genesis band members have sold their music rights. The music label Concord Music paid for there plays the Wall Street Journal $ 300 million for.

The deal includes the songs Collins recorded in his solo career and the music he created for Genesis with keyboardist Tony Banks and guitarist Mike Rutherford. Also includes solo material by Rutherford and Banks. The recordings of Peter Gabriel, who left Genesis in 1975, are not part of the deal.

Genesis was founded in the 1960s. It wasn’t until 1970 that Collins joined the band as a drummer. The band was already successful then, but Genesis got really big when Gabriel left and Collins became the lead singer of the British band. Genesis scored hits such as I can not dance, Land of confusion in Jesus knows me. Collins also achieved solo success with songs such as In the air tonight in Another day in heaven.

The deal places the 71-year-old singer and drummer in the line of great musicians like Bob Dylan and Bruce Springsteen, who have already sold their music rights in recent years. Dylan’s catalog it was for $ 400 million sold. Springsteen’s songs brought him about $ 500 million. Neil Young and Paul Simon also sold their music rights.

Last lap

In March of this year, Genesis last performed on a farewell tour. Collins, who had long been struggling with health problems, was no longer able to play the drums. So his son Nic sat behind the drums, while Phil sat in a chair on the stage and sang.

The goal of the multi-million dollar deal is to bring music to a younger audience, said Bob Valentine, president of Concord Music. “In the world we now live in with Facebook, Instagram, TikTok and all the other things that encourage listening to old music, there are definitely ways for us as a record company to bring this music back to life,” he told The Wall Street. diary.

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