The Weeknd has sold his music catalog for $1 BILLION in a new unique deal
The Weeknd has sold his music catalog for $1 BILLION in a new unique deal.
Abel Tesfaye and Lyric Capital Group have closed a deal forming a business venture together wherein Lyric has INVESTED in the his music catalog from inception through 2025. (The deal excludes any future music)
The Weeknd and Lyric Capital Group have closed a deal forming a business venture together wherein Lyric has invested in the artist’s music catalog from inception through 2025, reps for the artist confirm to Variety. The deal sees the Weeknd — real name: Abel Tesfaye — and his team maintaining creative control over the catalog and remaining shareholders and owners in the company.
The rep notes that the joint venture is not a conventional catalog sale: “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. 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.”
The venture applies only toward the Weeknd’s music masters and publishing through 2025 and does not include any future releases. The Weeknd continues his partnership with XO/Republic/Universal Music Group; his publishing catalog has been and continues to be administered by Universal Music Publishing Group.
