Tuesday, November 29, 2022
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Phil Collins and Genesis sell a catalog of works for R $ 1.6 billion

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The singer and the drummer Phil Collins and his former colleagues Genesis GroupMike Rutherford and Tony Banks, accepted a $ 300 million music rights deal from Concord Music Group, according to The Wall Street newspaper.

The deal would leave the works of Pietro Gabriele, former member and one of the founders of the band, from outside, in addition to other former members of the group. The transaction also includes all monies collected from streaming playback.

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Also according to the newspaper, the agreement marks the return of Concord, one of the largest independent music labels, as a buyer after a period of uncertainty and a possible sale of itself.

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Source: Terra

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