Los Angeles, Dec 15 (IANS) Singer-songwriter The Weeknd has struck gold with his latest catalogue deal. The singer has entered into a major new business venture marking one of the most significant catalogue deals ever made by a contemporary artist.
Representatives for the 35-year-old singer, born Abel Tesfaye, confirm that he has sold his music catalogue spanning from the beginning of his career through 2025, reports ‘Female First UK’.
Lyric Capital Group has taken an investment stake in the catalogue. Crucially, Tesfaye and his team will continue to steer the creative direction of the catalogue and retain ownership positions in the newly formed company.
As per sources close to the negotiations, the agreement was designed from the ground up to avoid the traditional structure of a catalogue sale.
Instead, Tesfaye sought a model that preserved his authority over both his master recordings and publishing rights.
The arrangement covers only the body of work released up to 2025, leaving all future material outside the scope of the deal.
As per ‘Female First UK’, Tesfaye’s existing relationships with XO, Republic Records, and Universal Music Group remain unchanged, and Universal Music Publishing Group continues to administer his publishing rights.
‘Variety’ suggested the valuation exceeded $1 billion, a figure that would place the deal among the largest single‑artist catalog transactions ever recorded. The only publicly confirmed deal surpassing it is Sony Music’s acquisition of Queen’s catalogue, valued at roughly $1.27 billion.
The Weeknd’s commercial power remains undeniable. With more than 120 million monthly listeners on Spotify and a global touring presence that recently pushed his After Hours ‘Til Dawn tour past the $1 billion revenue mark.
Ross Cameron, Lyric founder/ co-managing partner, commented, “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”.
“The collaboration resulted in a first-of-its-kind partnership between an artist and Lyric, and we are beyond thrilled about this new venture”, he added.
--IANS
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