International music superstar The Weeknd has sealed a groundbreaking agreement with Lyric Capital Group that is already being described as one of the most artist‑centric and financially significant catalogue deals in modern music history. The arrangement, reportedly worth in excess of $1 billion, covers the entirety of his catalogue through 2025 — but in a twist that defies industry convention, it does so without stripping the artist of creative control.
Over the summer there was widespread speculation that Abel Tesfaye, better known as The Weeknd, was in negotiations for a catalogue valuation of around $1 billion. At the time, few could have predicted the innovative structure of the eventual agreement. Rather than a simple sale of rights, the deal represents a collaborative new model between artist and financier — one designed to protect artistic intent while unlocking substantial commercial value.
According to representatives for The Weeknd, the central principle of the deal was never about divesting control, but about forging a partnership. “From day one, Lyric understood that Abel wasn’t interested in relinquishing his catalogue,” said a spokesperson familiar with the discussions. “He wanted to redefine what such a transaction could look like, and to ensure that his creative vision remained paramount.”
A key element of this bespoke structure is a finance instrument dubbed a Royalty Backed Note, developed by Lyric alongside partners including the Partners Group. While the inner workings of this note are complex and have not been publicly disclosed, sources indicate that it allows for capital to be generated against future catalogue revenues without resorting to traditional asset‑backed securitisation.
“There’s no ABS or securitisation in this deal,” emphasised the Weeknd’s representative. “This is a unique financial model tailored precisely to support the artist’s interests.”
In an environment where catalogue sales have reached stratospheric valuations — and where some artists have voiced concern about losing control over their musical legacies — The Weeknd’s approach is noteworthy. Instead of transferring ownership, the agreement with Lyric gives Tesfaye and his team both economic benefit and creative latitude, arguably setting a new benchmark for similar transactions.
Lyric Capital’s founding and co‑managing partner, Ross Cameron, articulated the significance of the partnership, describing it as a transformative moment for how artist assets are managed. “This isn’t merely a catalogue sale — it’s a partnership that elevates the artist’s role in shaping his own legacy,” Cameron explained. “We believe what we’ve created here could serve as a template for others looking to balance financial value with artistic stewardship.”
While neither party has publicly confirmed exact figures, industry observers estimate the deal’s value to be among the largest for a single artist’s catalogue in history. By comparison, Sony’s acquisition of the Queen catalogue — a deal that made global headlines — was widely reported to be around $1.27 billion.
The terms of The Weeknd’s agreement are specific: they cover all music masters and publishing through 2025, but do not extend to future releases. He maintains active partnerships with XO/Republic/Universal Music Group, and his publishing interests continue to be managed through Universal, along with pre‑existing arrangements involving Chord Music Partners and Dundee Partners.
For fans and industry watchers alike, the real story here may not be the headline figure — but the philosophy behind the deal. At a time when artists increasingly seek to reclaim agency over their work, The Weeknd’s £800m‑plus arrangement may well signal a new era in how music catalogues are valued, financed, and ultimately protected.