The Weeknd Closes $1 Billion Catalog Partnership While Keeping Full Ownership and Creative Control

The Weeknd has struck a catalog partnership with Lyric Capital Group, valuing his music at around $1 billion. The deal covers his music masters and publishing work from the start through 2025, with the artist maintaining ownership and creative control. The deal does not include any future releases.

This structure deviates from typical catalog sales, where artists sell everything outright and walk away. Abel Tesfaye and his team remain as shareholders and owners in the company instead of cashing out completely.

"From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog," a representative for the artist said, according to Variety. "He wanted to be more innovative and creative in the way we established a partnership."

The venture gives the artist and his team freedom to carry out their creative vision with both publishing and masters rights, allowing them to make decisions about how their work gets used and distributed going forward without needing approval from outside investors or corporate boards. Representatives said this catalog deal sets a new standard for artist equity and control.

The only larger deal was Sony Music's acquisition of the Queen catalog, valued at $1.27 billion. Half of the singer's publishing rights were owned by Chord Music Partners, backed by Universal Music Group and Dundee Partners.

The Canadian performer has sold more than 75 million albums. His After Hours 'Til Dawn tour passed the $1 billion mark, which set a record for a solo male artist. 

"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," said Ross Cameron, Lyric founding and co-managing partner. "The collaboration resulted in a first-of-its-kind partnership between an artist and Lyric, and we are beyond thrilled about this new venture."

The artist continues his partnership with XO/Republic/Universal Music Group. His publishing catalog has been and continues to be administered by Universal Music Publishing Group.