Fact Check: Did The Weeknd Sell His Music Catalogue for $1B?

In December 2025, Abel Tesfaye, known globally as The Weeknd, finalised a major partnership with Lyric Capital Group involving his music catalogue. Reports quickly framed it as a billion-dollar cash-out, but a closer look tells us things aren't quite what they seem. The question many are asking is, did The Weeknd really sell his entire existing music catalogue for a billion dollars?

Apparently, the short answer is no. At least, not in the traditional sense used in recent catalogue transactions. Tesfaye did not hand over total ownership of his work outright, nor did he exit his rights for a lump sum. Instead, the agreement is actually a joint business venture that allows Lyric Capital Group to invest in the catalogue while Tesfaye and his team remain shareholders and owners of the company managing those assets.

This structure sets the deal apart from catalogue sales that see artists let go of long-term authority. Tesfaye still retains full creative control over how his music is licensed, used, and monetised across platforms such as film, branding, and commercial partnerships. A representative explained the approach clearly, stating, 'From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalogue.'

What The Partnership Covers And What It Does Not

Broken down, the deal itself includes Tesfaye's master recordings and publishing rights from the beginning of his career until 2025. Any music released after that point is excluded entirely and remains separate from the venture. This means future albums, singles, and projects will sit outside the agreement and under Tesfaye's sole direction.

In addition, all professional relationships remain intact and in place. Tesfaye continues his long-standing partnerships with XO, Republic Records, and Universal Music Group, while his publishing catalogue remains administered by Universal Music Publishing Group. The agreement does not affect these existing arrangements, showing that this is an investment structure rather than a transfer of control.

Why The Deal Is Valued At £740 Million

While neither Lyric Capital nor Tesfaye's representatives confirmed exact financial figures, industry reporting has valued it at a minimum of £740 million (approximately $1 billion). However, it is important to note that because the arrangement is not a conventional sale, representatives say that calculating a 'standard royalty multiple' is effectively impossible.

There is also uncertainty around what assets were included beyond recorded music and publishing. Billboard reported that it remains unclear whether the deal extended to other aspects of his career such as merchandise or touring revenue.

How The Deal Compares To Other Billion-Level Catalogues

If the valuation is accurate, the partnership places Tesfaye among a very small group of artists linked to billion-level catalogues. Queen received £940 million (approximately $1.27 billion) when selling its masters to Sony in June 2024. Michael Jackson's recorded masters and publishing catalogue were valued at £925 million (approximately $1.25 billion) in February 2024, with £463 million (approximately $625 million) paid for a 50 percent stake.

Tesfaye's position differs because he did not give up ownership. His catalogue strength is underscored by more than 120 million monthly listeners on Spotify and over £740 million (approximately $1 billion) in ticket sales from the After Hours 'Til Dawn tour, which set a record for a solo male artist. These figures help explain why investors were willing to structure a deal around long-term participation rather than acquisition.