The Weeknd, one of the most streamed artists in the world, is reportedly in talks to raise as much as $1 billion in financing backed by his music catalog, according to Bloomberg.
People familiar with the negotiations told the outlet that the Canadian star — born Abel Tesfaye — would pledge his stake in publishing rights and master recordings to secure the package. The proposed deal would be among the largest music-catalog-backed financings in recent years, placing The Weeknd who has over 83 billion streams across his catalog on Spotify, joins his peers like Justin Bieber and John Legend who have leveraged their catalogs for capital in an increasingly financialized music industry.
The talks are being led by New York–based Lyric Capital Group, the parent company of Spirit Music Group, which controls catalogs from Tim McGraw, Jason Aldean and Ingrid Michaelson. Sources say the deal could be structured with $500 million in senior debt, $250 million in junior debt, and $250 million in equity.
Chord Music Partners, a consortium involving Universal Music Group and Dundee Partners, already owns 50 percent of The Weeknd’s publishing rights. The new financing effort, still in preliminary stages, would allow Tesfaye to unlock liquidity from the remainder of his catalog without outright selling it.
If finalized, the transaction would rival some of the biggest moves in music finance. In 2022, Apollo Global Management underwrote what it called the “largest-ever” asset-backed securities transaction for Concord, priced at $1.8 billion. Just last year, Apollo led a $700 million investment into Sony Music Group, while Carlyle Group has been active with a $464 million bond sale backed by royalties.
The Weeknd’s Streaming Power
With over 111 million monthly listeners on Spotify, The Weeknd remains one of the most powerful figures in the streaming economy. His 2019 track Blinding Lights surpassed Ed Sheeran’s Shape of You as the most-streamed song in Spotify’s history, a milestone that underscores the enduring value of his catalog.
That value has made Tesfaye a consistent subject of speculation in financial circles. Two years ago, he explored a partial sale of his rights at a $1.3 billion valuation, though those talks never materialized. The current deal, if it closes, could reset the ceiling for catalog-backed financing in the industry.
A Name in Transition, a Catalog in Demand
The reported negotiations arrive just months after Tesfaye announced plans to retire “The Weeknd” as a stage name, though he intends to continue recording and performing. The rebrand, he said, is part of a personal and creative evolution.
For investors, however, the name may matter less than the numbers. With a track record of global hits, blockbuster tours, and one of the most valuable streaming catalogs on the planet, Tesfaye’s music remains an asset class of its own.
