The Weeknd Is Looking To Raise $1 Billion WITHOUT Having To Sell His Catalog

Bruce Springsteen sold his entire music catalog to Sony for $600 million. Bob Dylan cut a deal with Universal Music Group worth close to $400 million. Sting struck an agreement with Universal for around $300 million. Even Justin Bieber, who is barely in his 30s, sold his music rights to Hipgnosis Songs Capital in a deal valued at about $200 million.

These deals, and basically every deal you've ever heard of up to this point, have one big thing in common: the artists only received their massive paydays by SELLING their catalogs. Once the money was wired into their accounts, the labels or investors walked away owning the music forever. For Springsteen or Dylan, legends with decades of hits and nothing left to prove, that kind of transaction makes sense. For younger acts like Bieber, it raised eyebrows — why give up ownership so early just to access liquidity?

That's what makes the latest move by The Weeknd so fascinating. Rather than sell his music, the Canadian superstar is working on a plan to raise $1 billion using his catalog as collateral. In other words, he's looking for one of the biggest music paydays of all time… WITHOUT selling his catalog.

(Photo by Pascal Le Segretain/Getty Images)

How The Deal Works

So how do you pull off a billion-dollar payday without actually selling your songs? In this case, The Weeknd is essentially treating his music catalog like a house. As in, he's looking to take out a mortgage backed by his future song royalties and rights. Instead of transferring ownership of the catalog, he would pledge his rights as collateral for a huge financing package.

The structure, according to reports, is being spearheaded by New York-based Lyric Capital Group. Their plan calls for $500 million in senior debt (the safest loans for investors), $250 million in junior debt (riskier, but higher yielding), and $250 million in equity from investors who want a shot at upside. The combined package: $1 billion.

Investors would get paid back from the predictable, ongoing revenue streams generated by his music. Every time "Blinding Lights" racks up another 10 million Spotify streams, every time "Starboy" gets licensed for a commercial, every time radio plays "Can't Feel My Face" — that cash flow helps service the debt. Unlike Bieber or Springsteen, The Weeknd wouldn't be handing over the keys to his life's work. He'd just be borrowing against it.

Why It Matters

If completed, this would be one of the largest financing deals in music history. It underscores just how valuable The Weeknd's catalog has become — he has more than 110 million monthly listeners on Spotify, putting him at the very top of global streaming rankings. Those numbers translate into a reliable revenue machine, and Wall Street loves predictable cash flow.

The move also signals a shift in how younger artists think about their work. Rather than cash out entirely, they're finding ways to unlock massive sums while still controlling the rights that will define their legacy. For someone like The Weeknd, who is still in the prime of his career, keeping ownership could be far more lucrative in the long run.

Not The First Time

If this all sounds brand new, it's not. The idea of raising money by securitizing music royalties goes back nearly three decades, and it started with none other than David Bowie.

In 1997, Bowie was worried about the future of his income streams. With piracy exploding through Napster and Limewire, he feared his royalties might dry up. Rather than sell his catalog, he worked with a banker to invent what became known as "Bowie Bonds." Using 25 albums and 287 songs recorded before 1990 as collateral, Bowie raised $55 million from Prudential Financial. $55 million! That's pocket change to today's artists.

The deal worked like this: for 10 years, Bowie's royalty income flowed to the bondholders instead of his bank account. In exchange, he got a giant upfront payday and even bought back songs that had been controlled by his former manager. When the bonds matured in 2007, his royalty rights reverted back to him. Bowie essentially mortgaged his music, got his money, and kept ownership in the long run.

The Weeknd's deal would be the modern, supersized version of Bowie Bonds. Only this time, the potential payday isn't $55 million… it's $1 billion. And to be clear, this deal has not officially been consummated yet. Rumors of the deal were reported anonymously by insiders to Bloomberg over the weekend. It should also be noted that, according to Bloomberg, The Weeknd had previously tried to raise $1.3 billion using his catalog as collateral but was not successful.

In other words, for now, it's still just talk and rumors. But if The Weeknd pulls this off, he won't just join the ranks of Springsteen, Dylan, and Bieber — he'll leapfrog them with one of the most audacious music deals of all time.