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.
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.