Abel Tesfaye, aka The Weeknd, may have just inked a trend-setting catalog deal. According to Variety, the Canadian superstar is partnering with Lyric Capital Group, who are investing in his catalog from the beginning through 2025. That means it doesn't apply to anything in 2026 and beyond.
Talks of this happening were first reported in August of this year.
But as we teased, this isn't a normal catalog sale. Instead, The Weeknd and his team are still maintaining complete creative control. In a Lyric rep's statement to the publication they say, "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."
They continue, "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."
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It's worth noting that this will also not affect The Weeknd's current label ties. He's still with XO/Republic/Universal Music Group. Universal Music Publishing Group will administer his publishing catalog.
If this wasn't enough of a homerun for the Hurry Up Tomorrow singer, this deal is worth a pretty penny. Previous reports from the likes of Bloomberg and Billboard shared that the 35-year-old's assets were valued at least $1 billion.
As of yet though, the value of this contract is not yet available. However, if it is, then it will be the second-most expensive catalog acquisition was Sony nabbing Queen's for $1.27 billion last year.
Wildly enough though, this isn't the only $1 billion accomplishment for The Weeknd. His massive After Hours Til Dawn world tour grossed that much. He became the first male solo artist to achieve that mark.
