The Weeknd signs historic deal with Lyric Capital to manage his music catalog valued at one billion dollars (REUTERS/Eric Gaillard)
The Weeknd has formed an unprecedented partnership with Lyric Capital Group to manage his catalog, valued at approximately one billion dollars , according to Complex .
This agreement covers the artist's entire body of work from his beginnings until 2025 and stands out both for its economic magnitude and for an essential clause: Abel Tesfaye , known artistically as The Weeknd , retains creative control and ownership of his rights , something unusual in the music industry .
An innovative model in the industry
The agreement, announced on December 13 , represents a new benchmark in large-scale music asset management . According to Complex , the transaction does not involve a traditional catalog sale .
Rather, it is a strategic partnership in which the artist and their team retain the freedom to execute their creative vision , both regarding publishing rights and master recordings.
A Lyric representative noted that, during the negotiations, Tesfaye's position was clear: he was not looking to sell his work, but to explore a more innovative and flexible model in the contractual relationship .
“From the start of the meeting, everyone at Lyric understood that Abel wouldn’t sell his catalog . He wanted to be more innovative and creative in how we established the partnership,” a Lyric spokesperson explained to Complex . This approach has been described by the company as “unique” and hailed as a “ new standard for artist equity and control .”
Details of the agreement and economic valuation
The agreement only covers The Weeknd 's catalog through 2025 and excludes future releases . The singer will remain associated with XO/Republic/Universal Music Group . Meanwhile, Universal Music Publishing Group will continue to manage his publishing catalog.
The innovative and flexible nature of the contract makes it impossible to calculate a traditional royalty multiple, as admitted by the Lyric representative quoted by Complex .
Regarding the valuation, sources such as Billboard and Bloomberg , cited by Complex , estimate that the assets involved in the deal exceed one billion dollars , a figure supported by net income from the label and publisher of around $55 million annually , suggesting a multiple of 18.2 times . Although neither The Weeknd's nor Lyric's representatives have publicly confirmed the exact amounts, if accurate, the transaction would be among the most expensive in history for a single contemporary artist.
Key comparisons and exclusions
The Weeknd joins Queen and Michael Jackson as the only artists to surpass a contract worth over $1 billion
Only a few deals in the sector have reached this size. In June 2024, Sony acquired the Queen catalog for $1.27 billion , and in February of the same year, 50% of Michael Jackson's catalog was transferred for a total valuation of $1.25 billion , in a transaction involving $625 million .
The Weeknd's deal has a limited scope : it covers only music rights until 2025 and excludes income from merchandising and touring , as detailed by Complex .
Prior to this alliance, half of the artist's publishing rights had already been acquired by Chord Music Partners , a company backed by Universal Music Group and Dundee Partners.
