The Weeknd lands $1B catalog deal while keeping creative control

A New Era for The Weeknd's Music Catalog

The Weeknd, the 35-year-old Canadian singer known for his soulful and genre-defying music, has just entered into an innovative business deal that is set to redefine how artists manage their music catalogs. In a groundbreaking partnership with Lyric Capital Group, The Weeknd has secured a unique investment in his music catalog from its inception through 2025.

This collaboration was first reported by Variety on Saturday, December 13, and it marks a significant shift in how artists can retain control over their creative works while still benefiting from financial partnerships. According to representatives for The Weeknd, the artist and his team will maintain full creative control over the catalog and remain shareholders in the company. This approach emphasizes innovation and creativity rather than traditional catalog sales.

"The Weeknd wanted to be more innovative and creative in the way we established a partnership," said a representative to Variety. "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 arrangement sets a new standard for artist equity and control, offering a model that could influence future deals in the music industry.

Understanding the Deal

The venture applies specifically to The Weeknd's music masters and publishing through 2025, and it does not include any future releases. The Weeknd continues his existing partnership with XO/Republic/Universal Music Group, and his publishing catalog remains administered by Universal Music Publishing Group.

Unlike traditional catalog sales, this deal is not structured as a conventional sale, which makes it difficult to calculate a royalty multiple. However, sources like Billboard and Bloomberg previously reported that the assets were valued at a minimum of $1 billion based on about $55 million in net label and net publisher share, suggesting an 18.2 times multiple.

Billboard also notes that it is unclear whether the Lyric Capital deal included only those assets or additional ones such as merchandise and touring revenue. Representatives for The Weeknd and Lyric declined to confirm financial figures to Variety, but if the reports are accurate, the deal would rank among the largest involving a single artist's catalog, especially for a contemporary performer.

Industry Comparisons

Billboard highlights that only a few artist deals have reached the $1 billion level. These include the $1.27 billion Queen received when selling its masters to Sony in June 2024, and the $1.25 billion valuation of Michael Jackson's recorded masters and music publishing catalogs in a deal where $625 million changed hands for a 50% stake in February 2024.

The Weeknd has over 120 million monthly listeners on Spotify and recently surpassed $1 billion in ticket sales on his After Hours 'Til Dawn Tour, which set a record for a solo male artist.

Ross Cameron, Lyric founding and co-managing partner, expressed his excitement about the partnership: "I couldn't be more excited about what Lyric, Abel and team have created together. From our first meeting, it was clear to me that we were sitting around the table with individuals that were going to change the way an artist thinks about his assets, music and legacy."

Rich Garzia, Lyric co-managing partner, added: "Lyric strives to create artist-friendly structures and we believe this partnership demonstrates that at the highest level with the top artist in the world. I want to thank Abel and his team for putting their trust in Lyric."

Background on The Weeknd's Rights

Prior to this deal, half of The Weeknd's publishing rights were already owned by Chord Music Partners, backed by Universal Music Group and Dundee Partners. Lyric Capital, which invests in music royalties, also owns Spirit Music Group and controls catalogs from Tim McGraw, Jason Aldean, Ingrid Michaelson, and others.

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