The Weeknd is working to boost $1 billion by leveraging his music catalog with out promoting his rights as he eyes a post-music profession shift.

The Weeknd is aiming to safe a whopping $1 billion in financing utilizing his chart-topping music catalog as collateral with out giving up possession of his rights.

The Grammy Award-winning artist is working with Lyric Capital Group, a New York-based agency that focuses on music royalties, to construction a deal that may instantly ship $250 million in money and a further $750 million in debt, in response to Bloomberg.

Rather than promoting off his catalog, the plan entails leveraging the remaining half of his publishing rights, which aren’t presently held by Chord music Partners. Chord already owns 50 p.c of his publishing stake. The transfer would enable The Weeknd to retain full management of his music whereas unlocking capital for future ventures in movie, tv and style.

The Weeknd’s catalog contains a few of the most commercially profitable singles of the previous decade, together with “Blinding Lights,” “Starboy” and “Can’t Feel My Face.”

Each observe continues to generate constant income, making them engaging belongings for monetary backing. If the deal closes, it may catapult The Weeknd into the billionaire tier of music moguls. However, the excessive degree of debt concerned additionally introduces appreciable monetary danger.

The transfer comes as The Weeknd prepares to step away from his stage title and rebrand for his subsequent chapter. He’s presently on the After Hours Til Dawn 2025 stadium tour, which kicked off on May 9 in Phoenix and can wrap up September 20 in Las Vegas. 

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