The Weeknd is reportedly in “early” negotiations to strike a landmark $1 billion deal for his music catalogue.
According to Bloomberg, New York-based private equity firm Lyric Capital Group is in talks with the Blinding Lights hitmaker. The deal would allow the artist, whose real name is Abel Tesfaye, to free up funds while retaining ownership of his music, with his publishing rights and master recordings serving as collateral.
The 35-year-old Hurry Up Tomorrow filmmaker has also been considering stepping away from his stage name. He previously hinted that the project might be his last as The Weeknd, suggesting he is eager to explore other creative outlets.
Speaking to The Hollywood Reporter in May, he said: “We’re brainstorming it right now. I feel like we don’t have any definite answers, but I haven’t dropped it yet because I’m on tour, so I’ve still gotta get out there and see the fans.”
On the progress of retiring the moniker, Tesfaye told People magazine: “Have I started? Yeah, it’s getting there. I mean, I’m on tour right now, so I can’t fully retire it.”
When pressed on whether the shift has brought up any emotions, The Weeknd said: “Oh, I can’t tell you too much.”
The Grammy-winning artist also reflected on his relationship with fame, saying: “I’ve always wanted my work to be famous. I don’t know if I ever wanted to be famous, so that whole skill set I haven’t really mastered and I don’t plan to. It’s a weird situation, but here we are.”
