The Weeknd has entered into a major new business venture with Lyric Capital Group, 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 Lyric has taken an investment stake in his music catalogue spanning from the beginning of his career through 2025. Crucially, Tesfaye and his team will continue to steer the creative direction of the catalogue and retain ownership positions in the newly formed company.
According to those 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. 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.”
Rich Garzia, Lyric co-managing partner, added to Variety: “Lyric strives to create artist-friendly structures and we believe this partnership demonstrates that at the highest level with the top artist in the world. I want to thank Abel and his team for putting their trust in Lyric.”
