The Weeknd Secures Major Catalog Deal Worth Billions

Abel Tesfaye, better known as The Weeknd, appears to have finalized a catalog agreement that could reshape how these deals are done. Variety reports that the Canadian artist has entered into a partnership with Lyric Capital Group, which will invest in his catalog covering releases up through 2025. Any material released from 2026 onward is not included in the arrangement.

Rumors surrounding this potential deal first surfaced back in August, hinting that something major was in motion.

As previously suggested, this is far from a traditional catalog sale. Rather than giving up ownership, The Weeknd and his team are retaining full creative authority. In a statement shared with the outlet, a representative from Lyric explained, "From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog. He wanted to be more innovative and creative in the way we established a partnership."

The statement continued, "To that end, through this venture, we constructed and launched a new business model with Abel and his iconic catalog whereby Abel and his team have the freedom to execute their creative vision with the entirety of his rights, both publishing and masters. This unique catalog deal sets a new standard for artist equity and control."

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The Weeknd performs at State Farm Stadium in Glendale on Aug. 30, 2022. Entertainment The Weeknd Concert At State Farm Stadium © Michael Chow/The Republic / USA TODAY NETWORK via Imagn Images

 

If that were not impressive enough for the Hurry Up Tomorrow singer, the financial scope of the deal is reportedly enormous. Earlier coverage from outlets including Bloomberg and Billboard suggested that the 35 year old’s catalog and related assets carry a valuation of at least $1 billion.

The exact price of this specific partnership has not yet been disclosed. If it reaches similar territory, it would trail only one deal, Sony’s acquisition of Queen’s catalog for $1.27 billion last year.

Remarkably, this is not the only billion dollar milestone attached to The Weeknd’s name. His After Hours Til Dawn world tour generated over $1 billion in revenue, making him the first male solo artist to ever reach that level.