Phil Collins and Genesis sell music rights for $300,000,000
Phil Collins and Genesis have sold a large chunk of their back catalogue for a whopping $300million (£268m). Concord Music Group has landed the publishing rights and master recordings for most of prog rock legends Genesis’ catalogue, as well as a portion of the group’s recorded music income streams and masters.
The sale also includes Collins’ solo hits In the Air Tonight, You’ll Be In My Heart, and Against All Odds. Guitarist Mike Rutherford’s songs from his band Mike and the Mechanics are part of the sale, too.
Speaking about the sale, Concord president Bob Valentine told the Wall Street Journal: ‘In the world we live in today with Facebook, Instagram, TikTok, all these things that drive consumption of older music, there are definitely ways for us as a record company to bring some of this music back to life. ’In March, Collins performed his final show with Genesis at London’s The O2.
He has suffered for a long time with poor health since he injured vertebrae in his upper neck while performing in 2009. Two years later, he stepped back from performing due to crippling nerve damage, which rendered him unable to play the drums, before returning in 2015.
