The Weeknd is reportedly looking to raise an enormous $1 billion through leveraging his music catalog.<\/p>\n
According to Bloomberg<\/em><\/a>, the Canadian singer is seeking to use his extensive catalog of records to raise $1 billion in funding without actually selling his music rights.<\/p>\n Instead, the rights would serve as collateral and allow The Weeknd access to a significant amount of collateral.<\/p>\n Private equity firm, Lyric Capital Group, are reportedly the frontrunner in assembling a package and are offering $500 million in senior debt, $250 million in junior debt and $250 million in equity.<\/p>\n The Weeknd and Lyric Capital Group are yet to comment on the reports.<\/p>\n The “Blinding Lights” singer has previously said that he is getting ready to retire his Weeknd moniker.<\/p>\n \u201c[I am closing the chapter] on my existence as the Weeknd,\u201d he said. \u201cIt\u2019s a headspace I\u2019ve gotta get into that I just don\u2019t have any more desire for. I feel like it comes with so much\u2026 You have a persona, but then you have the competition of it all. It becomes this rat race: more accolades, more success, more shows, more albums, more awards and more No. 1s. It never ends until you end it.\u201d<\/p>\n He noted that the 2022 moment when\u00a0he lost his voice at his Los Angeles concert and had to reschedule just moments after the show began\u00a0also played a role.<\/p>\n \u201cPart of me actually was thinking, \u2018You lost your voice because it\u2019s done; you said what you had to say. Don\u2019t overstay at the party \u2014 you can end it now and live a happ<\/a>y life.\u2019 You know? Put the bow on it: \u2018Hurry Up Tomorrow\u2019? Now we\u2019re here. When is the right time to leave, if not at your peak? Once you understand who I am too much, then it\u2019s time to pivot.\u201d<\/p>\n However, he did say he had no plans to retire from music: \u201cI don\u2019t think I can stop doing that. But everything needs to feel like a challenge. And for me right now, The Weeknd, whatever that is, it\u2019s been mastered. No one\u2019s gonna do The Weeknd better than me, and I\u2019m not gonna do it better than what it is right now. I think I\u2019ve overcome every challenge as this persona, and that\u2019s why I\u2019m really excited about this film, because I love this challenge.”<\/p>\n The post The Weeknd Reportedly Looks To Raise $1 Billion Through Music Catalog appeared first on HipHopDX.<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more Like this articles, you can visit our Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n