Pop superstar The Weeknd has reportedly entered a landmark, billion-dollar business partnership with Lyric Capital Group centered on his music catalog—a deal that industry sources say could mark a new approach to how major artists can monetize their work while also maintaining creative control.
The structure of the deal is said to diverge from that of traditional catalog sales, which involve outright transfer of ownership to investors, reports Variety. Instead, the framework is described as a joint venture in which The Weeknd and his team will remain shareholders and retain creative control. Industry sources told Variety that this arrangement allows the artist to shape how his work is marketed and exploited commercially.
Representatives for both The Weeknd and Lyric declined to confirm specific financial terms, but multiple outlets report that the valuation is in the $1 billion range—a figure that would place the deal among the largest single-artist catalog agreements in history. “From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog,” a Lyric spokesperson told Variety. “He wanted to be more innovative and creative in the way we established a partnership.”
The partnership applies only to The Weeknd’s work to date and does not cover future releases, leaving open the possibility of separate agreements for music created after 2025. He will continue his recording relationship with XO, Republic Records, and Universal Music Group, and Universal Music Publishing Group will maintain his publishing rights.
Lyric Capital, a New York-based investment firm specializing in music royalties, also owns Spirit Music Group and has been active in the growing market for catalog and royalty investments. The deal underscores the rising financial value of music catalogs as streaming revenue and licensing income continue to grow.
Last year, Sony Music Entertainment acquired rights to the music of legendary rock band Queen for a reported $1.27 billion, while the Red Hot Chili Peppers reportedly sold off their catalog for around $350 million.
The Weeknd, 35, is one of the most streamed and commercially successful artists of his generation. His “After Hours Til Dawn” stadium tour recently surpassed $1 billion in revenue, and his catalog includes global hits such as “Blinding Lights,” “Starboy” and “Can’t Feel My Face,” all of which continue to generate significant royalties. He also co-starred in the ill-fated HBO series The Idol, opposite Lily Rose-Depp, and appeared in the movie Uncut Gems.
