NOS News•Today, 01:25
Vocalist and drummer Phil Collins and his fellow Genesis band members have sold their music rights. Music label Concord Music paid there according to The Wall Street Journal $300 million for.
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.
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 really got big when Gabriel left and Collins became lead singer of the British band. 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.
The deal places the 71-year-old singer and drummer in the line of musical greats such as Bob Dylan and Bruce Springsteen, who have already sold their music rights in recent years. Dylan’s catalog sold for $400 million. Springsteen’s songs earned him about $500 million. Neil Young and Paul Simon have also sold their music rights.
In March of this year, Genesis last performed in a farewell tour. Collins, who has been struggling with health problems for some time, was no longer able to play the drums. So his son Nic took a seat behind the drum kit, while Phil sat on a chair on the stage and sang.
The goal of the multi-million dollar deal is to bring the 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 older music, there are certainly ways for us as a record company to bring this music back to life,” he told The Wall Street. journal.