Group sells catalog for $300 million
Concord Music Group has acquired the song catalog to Phil Collins and Genesis. The Wall Street Journal reports that the group sold the rights to their songs as a collective and solo artists for upwards of $300 million. The deal does not include former Genesis singer Peter Gabriel’s catalog.
In January, Billboard reported that manager Tony Smith was “discreetly shopping” the sale of the band’s catalog and estimated a deal could be worth $200 million at the time.
The group was set to reunite in 2020 for The Last Domino? Tour, but was postponed due to the pandemic. Collins, guitarist Mike Rutherford and keyboardist Tony Banks reunited last year and performed their time together in 14 years since the Turn It On Again Tour in 2007. The touring lineup featured touring guitarist/bassist Daryl Stuermer and Phil’s son Nic Collins on drums.
In 2015, Collins announced he was un-retiring and hitting the road. He began performing solo shows in 2017 with his son Nic on drums while he sang from a chair.
Genesis is the latest of a growing list of artists who’ve sold their catalog including Sting, Bob Dylan, Paul Rodgers, David Bowie, ZZ Top, Motley Crue, The Beach Boys and many others.
