The Weeknd has officially finalized a blockbuster music catalog partnership valued at more than $1 billion, marking one of the largest catalog deals in modern music history. After months of industry speculation, the global superstar—born Abel Tesfaye—has partnered with Lyric Capital Group in a deal that breaks away from traditional catalog sales and puts artist ownership front and center.
Unlike many high-profile catalog transactions, The Weeknd did not sell his music. Instead, the agreement covers his entire catalog through 2025 while allowing him and his team to retain full creative control over both his masters and publishing rights.
According to representatives close to the deal, the artist was clear from the outset that ownership and long-term vision mattered more than a conventional payout. Rather than an outright sale, Lyric Capital collaborated directly with The Weeknd to design a new, artist-friendly business model that prioritizes flexibility, innovation, and legacy.
“This partnership sets a new standard for artist equity and control,” a representative said, noting that the structure allows The Weeknd to continue executing his creative vision without restriction.
A New Model for Music Catalog Deals
Because the deal does not follow traditional asset-backed securities (ABS) or securitization structures, industry analysts say it’s difficult to calculate a standard royalty multiple. However, earlier reports from major financial and music trade publications estimated the catalog’s value at $1 billion or more, based on approximately $55 million in annual net label and publishing income.
Lyric Capital emphasized that the agreement includes a first-of-its-kind “royalty-backed note”, created with strategic partners, further reinforcing its artist-centric approach.
Ross Cameron, founding and co-managing partner at Lyric Capital, praised the collaboration, calling it a transformative moment for how artists think about their music, assets, and long-term legacy.
What’s Included—and What’s Not
The deal applies only to The Weeknd’s existing catalog through 2025 and does not include future releases. He will continue his long-standing relationship with XO/Republic Records and Universal Music Group (UMG), which will also remain the administrator of his publishing catalog.
It’s also worth noting that Chord Music Partners, backed by UMG and Dundee Partners, already owns half of The Weeknd’s publishing rights.
A Historic Deal in Modern Music
Even without full financial details made public, the partnership is widely regarded as one of the largest single-artist catalog deals ever, particularly for a contemporary artist still at the height of his career. The only publicly disclosed deal believed to be larger is Sony Music’s acquisition of Queen’s catalog last year, reportedly valued at approximately $1.27 billion.
For artists watching closely, The Weeknd’s deal may signal a major shift in how top-tier musicians approach ownership, valuation, and control—proving that massive financial deals don’t have to come at the cost of creative freedom.
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