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MusiquePhil Collins and Genesis are selling their catalogs for $300 million
Concord Music Group promises to bring the band’s songs to the younger generation through social media.
Mike Rutherford, Phil Collins and Tony Banks at the Genesis 2021 Farewell Tour in Chicago.
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On Thursday, the “Wall Street Journal” reported that three members of Genesis have reached an agreement with Concord Music Group Inc. regarding the acquisition of a set of their music rights. The deal includes publishing royalties, masters, and various sources of recorded music revenue for the work of Phil Collins, Mike Rutherford, and Tony Banks.
It covers both the titles recorded under the Genesis name and the works that the musicians have created during their individual careers. They reportedly received more than $300 million in return. Concord Music Group does not own the rights to the music of Genesis fourth member Peter Gabriel, either from his solo career or his time in the UK band.
On TikTok and company
Company president Bob Valentine told the Wall Street Journal that he plans to use his new music rights to bring older Genesis songs to the younger generation.
“In the world we live in today, with Facebook, Instagram, TikTok, all of these things driving the consumption of older music…there are definitely ways for us as a record label to bring life back to life. to some of that music,” he said.
(Cover Media / Lematin.ch)
