The Weeknd, renowned for his unique musical style and hits like “Wake Me Up,” has finalized a groundbreaking catalog deal that emphasizes artist equity and control. According to reports, the artist, born Abel Tesfaye, entered into an agreement with Lyric Capital Group, an investment firm focused on music royalties. This deal is set to cover his master recordings and publishing catalog through 2025, allowing The Weeknd and his team to retain creative control and ownership.
Unlike traditional catalog sales, which often involve a full transfer of rights, The Weeknd’s deal represents a fresh approach. He was explicitly uninterested in selling his catalog outright, leading to the development of a collaborative partnership instead. His representative stated, “From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog. He wanted to be more innovative and creative in the way we established a partnership.” This sentiment highlights a shift in how artists can secure their legacies while still engaging in profitable agreements.
The specifics of the deal include a “Royalty Backed Note,” a novel structure that aims to enhance artist-friendly themes within the industry. This contract ensures that The Weeknd can execute his creative vision with full rights to his works. The representative also clarified that the agreement does not involve traditional asset-backed securities or securitization, marking a major distinction in the way artists can handle their catalogs today.
In recent years, other artists such as Nelly, T-Pain, and Wiz Khalifa have also secured similar deals with Black woman-owned HarbourView Equity Partners, further emphasizing a trend towards empowering artists in managing their legacies. As The Weeknd sets this new standard for artist partnerships, it paves the way for more musicians to explore innovative ways to maintain control over their work, leading to a more equitable music industry landscape.
This pioneering agreement reflects a hopeful trajectory for artists seeking to balance financial opportunities with creative freedom, showcasing a future where musicians can thrive without compromising their artistic identity.