The Weeknd Closes Catalog Deal That's Said To Set 'A New Standard For Artist Equity And Control,' According To Spokesperson

The Weeknd has closed an unconventional catalog deal.

AFROTECH™ has reported various master’s and publishing deals over the years, which include Nelly, Hit-Boy, Wiz Khalifa, and T-Pain, who all secured deals with Black woman-owned HarbourView Equity Partners.

The Weeknd — also known as Abel Tesfaye — appears to be the next artist in line to secure a deal tied to his catalog. Variety reports the “Wake Me Up” artist has finalized a deal with Lyric Capital Group, an investment firm focused on music royalties, to invest in his master’s and publishing catalog through 2025, while he and his team maintain creative control and continue as shareholders and owners. Additionally, half of the artist’s publishing rights were owned by Chord Music Partners.

The exact value of the deal was not disclosed.

The deal is said to be a “first-of-its-kind,” per Variety. The Weeknd was not interested in the sale of his catalog, which opened doors to an agreement that allows him and his team to maintain creative control.

“From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog,” The Weeknd’s representative said, according to Variety. “He wanted to be more innovative and creative in the way we established a partnership. To that end, through this venture, we constructed and launched a new business model with Abel and his iconic catalog whereby Abel and his team have the freedom to execute their creative vision with the entirety of his rights, both publishing and masters. This unique catalog deal sets a new standard for artist equity and control.”

To maintain creative control of his catalog, The Weeknd’s contract with Lyric includes a “Royalty Backed Note,” reports Variety.

“There is no ABS or securitization deal here,” the rep continued. “Lyric created a first-of-its-kind structure with direct input from Abel and his team, which includes a first-of-its-kind ‘Royalty Backed Note’ — produced by Lyric, ft. Partners Group — that drastically enhances the artist-friendly theme that underpins this partnership.”