(Last Updated On: June 15, 2017)
The Weeknd Net Worth – $50 Million
The Weeknd is a Canadian singer, songwriter and record producer whose real name is Abel Makkonen Tesfaye. He has an estimated net worth of $50 million. The Weeknd’s music might be best described as late night sex-and-drugs music. He started out after uploading a number of songs anonymously on YouTube back in 2010 then released his debut mixtape, House of Balloons in 2011. He has so far released three studio albums with the latest being in 2016. He has won 9 Juno Awards, two American Music Awards and a number of Grammy Awards. He also owns a record label known as XO.
How Much Money Does The Weeknd Earn From Music?
The singer makes most of his money when he steps on the stage. He has so far had six concert tours with the latest being Starboy: Legend Of The Fall where he earned $75 million touring advances. His other significant tours include The Madness ($24.3 million) and King of The Fall Tour. In 2016 – 2017, he was able to average around $1.1 million per every tour stop. According to Forbes, The Weeknd made $92 million between 2016 – 2017 financial period and $55 million between 2015 -2016 financial period.
The other avenue through which musicians make money from is through record sales, streaming royalties and publishing. Here they get paid a share of what the record label they signed with makes. The Weeknd has over 5.5 bn streams on Spotify over the past 2 years which should amount to an estimated paid out royalty of $28 million to the record labels. His YouTube channel has over 10 million subscribers and his music gets an average of 8.7 million views on the platform. This should generate an estimated revenue of around $26,000 per day or $9.5 million a year.
In terms of endorsement deals, The Weeknd has a multi-million dollar deal with H&M which was inked in 2016.