The Weeknd has reportedly secured a groundbreaking, near $1 billion deal with Lyric Capital Group that grants him unprecedented control over his catalog while preserving creative ownership and his status as a shareholder.

This arrangement is non-traditional and does not constitute a standard catalog sale; it covers only work up to 2025 and does not affect upcoming projects.

The deal allows Abel Tesfaye and his team to control both publishing and master rights under an artist-friendly structure, with equity-based terms rather than a simple sale.

No royalty multiple is disclosed due to the non-traditional structure, though external reporting has estimated the assets at about $1 billion based on an implied 18.2x multiple from stated net figures.

Lyric Capital plans to invest in royalties and anticipates strong payouts, with estimates centering on a roughly $1 billion asset value derived from an 18.2x multiple of about $55 million in net label and net publisher share.

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If confirmed, the deal would rank among the largest single-artist catalog transactions, surpassed publicly only by Sony Music’s $1.27 billion Queen catalog acquisition.

Industry sources cite an approximate $55 million in net label and publisher share, suggesting an 18.2x multiple and positioning this as one of the largest catalog deals behind the Queen acquisition.

Industry outlets such as Variety, Billboard, and Bloomberg describe the arrangement as unprecedented in its blend of investment, control, and absence of traditional sale terms.

Lyric executives describe the partnership as a model that could redefine asset and legacy management, signaling a shift toward artist-friendly catalog deals.

Ross Cameron of Lyric emphasizes the innovative nature and potential to change how artists think about assets, music, and legacy.

Lyric frames the deal as a first-of-its-kind collaboration that could influence other artists to structure assets while protecting artistic integrity.