Phil Collins and Genesis Sell Publishing and Masters for $300 Million
The post Phil Collins and Genesis Sell Publishing and Masters for $300 Million appeared first on Consequence.
Phil Collins heard something calling in the air, and it was a sweet, sweet payday. According to a report in the Wall Street Journal (via Rolling Stone), Collins and his bandmates in Genesis have sold both their publishing rights and master recordings to Concord Music for $300 million.
The purchase covers Collins solo career, solo recordings from keyboardist Tony Banks and guitarist Mike Rutherford, and music they made together in Genesis. But it doesn’t include music from Peter Gabriel’s stint in the group, nor Gabriel’s solo work.
In an interview with the WSJ, Concord President Bob Valentine said he hopes to bring Collins and Genesis to young people. “In the world we live in today with Facebook, Instagram, TikTok, all these things that drive consumption of older music,” he said, “there are definitely ways for us as a record company to bring some of this music back to life.”
There’s some evidence that new generations are ready. In 2020, “In the Air Tonight” returned to the Billboard charts after a pair of young twins filmed themselves listening to the song for the first time, and then they absolutely lost their minds at the drum fill.
As for Genesis, in 2021 they reunited for the first time in 14 years to play “The Last Domino? Tour.” It saw Collins’ son Nic fill in behind the drums, since Collins himself suffered irreparable nerve damage during their last reunion, and can no longer play. With a few hundred million dollars in his pocket, the 71-year-old Collins can feel comfortable retiring if, as it seems, he’s lost his love of the road.
Phil Collins and Genesis Sell Publishing and Masters for $300 Million
Wren Graves
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