Rock star Phil Collins and his current Genesis bandmates Mike Rutherford and Tony Banks have agreed to sell the publishing copyrights and master copies to their individual music catalogs, as well as that of Genesis, for more than $300 million.
Their deal with Concord Music Group Inc. does not include the rights to the music of former Genesis frontman Peter Gabriel in the group’s early albums.
Concord, based in Nashville, had administered the publishing of Mr. Collins and Genesis since 2017. Now, the music label is looking to bring hits like “That’s All” and “In The Air Tonight” to new audiences.
“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,” Concord President Bob Valentine told The Wall Street Journal.
Tony Smith, the longtime manager of Genesis, Mr. Banks, Mr. Collins and Mr. Rutherford, said, “This is a catalog of music that we are all extremely proud of and it means a great deal to many fans… we are confident that alongside the respective continued relationships with record labels Warner Music and BMG, we leave the future ownership of the catalog in their capable hands, safe in the knowledge that the heritage will be protected.”
Mr. Collins and Genesis finished their last tour in March with a concert in London.
At the event, Mr. Collins told the crowd, “It’s the last stop of our tour, and it’s the last show for Genesis. After tonight we all have to get real jobs,” according to the Daily Mail.