It’s impossible to turn on the radio and not hear a song that is by or features the The Weeknd. The Weeknd (real name Abel Makkonen Tesfaye), is a singer from Canada who has dominated the pop charts for the last several years. His songs like ‘Can’t Feel My Face’ and ‘Starboy’ have been worldwide hits, and he’s performed at the Grammy’s. He’s also taken home three Grammy’s thus far in his career.
With all this success, how much money has the Weeknd made? What is the weeknd’s net worth?
How Has the Weeknd Made His Money?
Music has faced more than a few challenges as our world has become more and more digital. Gone are the days when people bought albums. Over the last decade people have transitioned to buying digital singles more often than complete records, and in the last few years streaming services have come to dominate the market.
The Weeknd dominates on those streaming platforms. According to a Forbes article, the Weeknd had over 5.5 billion streams between 2015-2017. And aside from what he earned on those platforms, he turned that “into an estimated $75 million touring advance. To him it’s all part of the model he’s been following throughout his rapid rise, one that applies to all sorts of businesses: Create an excellent product, make it widely available and flip the monetization switch when the timing is right.”
Between touring, streaming, and appearances, the Weeknd has diversified incomes streams. He also works continuously with other music stars, like Drake and Sia, which keeps him on the radio and in front of fans. He’ll also be at Coachella in 2018.
The Weeknd’s Net Worth
For someone who didn’t have their breakthrough song until 2015, the Weeknd has amassed a lot of money quickly. In 2017 he earned $92 million according to Forbes, earning him the 6th spot on their list of the top 100 highest paid celebrities. Bankrate puts his personal net worth at $30 million.
It doesn’t look like the Weeknd will be slowing down any time soon either. With ongoing radio hits and his popularity simply growing, there’s good reason to believe that 2018 will be another big year for the musician.
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Kara Perez is the original founder of From Frugal To Free. She is a money expert, speaker and founder of Bravely Go, a feminist financial education company. Her work has been featured on NPR, Business Insider, Forbes, and Elite Daily.