The Weeknd Eyes $1 Billion Catalog Deal

It seems to be like The Weeknd is attempting to lift a whopping $1 billion in funding backed by his music catalog. Bloomberg studies that the artist is keen to pledge his stake in publishing rights and grasp recordings. New York personal fairness agency Lyric Capital Group is main the talks, and the hitmaker has contacted different traders.

Lyric has proposed a construction that would come with $500 million in senior debt, $250 million in junior debt, and $250 million in fairness.

On the time of writing, each The Weeknd and Lyric Capital Group have but to publicly touch upon the dialogue. If a deal is made, it is going to be one of many largest music rights transactions in latest historical past. Different artists who’ve used their catalogs for funding embrace Justin Bieber, John Legend, and extra.

Information of The Weeknd’s newest transfer comes amid his “After Hours Til Daybreak” tour, which is anticipated to return to an in depth subsequent month with a present in New York Metropolis. To date, he is hit cities like Phoenix, Chicago, Denver, Philadelphia, Seattle, and extra. Final week, he even stunned his followers in Atlanta by bringing out a really particular hometown visitor. This, after all, was Future.

He joined him onstage on the Mercedes-Benz Stadium for a efficiency of “Low Life,” and as anticipated, the group went wild. Just a few days earlier than that, he got here out throughout The Weeknd’s Miami present, the place additionally they carried out the collab.

That was removed from the one shock the Canadian hitmaker had for his followers in Florida, nonetheless. Playboi Carti has been a particular visitor on the tour as a particular visitor, and through his set in Miami, he introduced out Ken Carson and Homixide Gang.