In recent days, headlines have suggested that The Weeknd sold his entire music catalog in a blockbuster deal worth nearly $1 billion. The reality, however, is more nuanced. Abel Tesfaye did not sell his catalog in the traditional sense. Instead, the global superstar finalized a strategic partnership that allows him to unlock massive value while retaining long-term control of his legacy.
In mid-December 2025, The Weeknd entered a joint venture with Lyric Capital Group, a private investment firm specializing in music assets. Under the agreement, Lyric invested in Tesfaye’s existing catalog, including master recordings and publishing rights from the start of his career through 2025. Sources estimate the valuation at around $1 billion, based on roughly $55 million in annual net revenue and an implied multiple near 18x. The figure has not been officially confirmed, but it places the deal among the largest catalog transactions ever for a contemporary artist.
Crucially, Tesfaye and his team retain creative control, ownership participation, and equity in the catalog. Unlike outright sales completed by artists such as Bruce Springsteen, Bob Dylan, or Justin Bieber, this structure does not involve permanently transferring rights. Instead, it functions more like a leveraged investment or refinancing. Lyric provided capital, reportedly funded approximately 75 percent through debt, while holding a 25 percent equity stake in the catalog. Tesfaye remains a shareholder and decision-maker.
The deal encompasses master recordings owned jointly by Tesfaye and his longtime manager Wassim “Sal” Slaiby, as well as his publishing interests. Reports indicate that The Weeknd owns roughly 75 percent of his publishing through a co-publishing arrangement and his writer’s share. The remaining 25 percent, which is not included in the Lyric transaction, is now held by Chord Music Partners. Importantly, all future music released after 2025 is excluded from the agreement, meaning Tesfaye maintains 100 percent ownership of upcoming work. His label relationship with XO, Republic Records, and Universal Music Group remains unchanged.
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