Tempo, backed by $ 1 billion, buys; new CEO claims to have ‘top-notch portfolio’
It has been a seemingly bumpy 18 months for Tempo Music Investments, the New York-based holding company of Providence Equity Partners, since launching in Q4 2019.
The fund, partner of Warner Music Group, has racked up over a billion dollars to spend … but in a music business of almost daily catalog acquisition ads, has been a remarkably silent player to this day.
And in January, Tempo CEO Sherrese Clarke Soares – a Morgan Stanley veteran – suddenly come out its position in the company.
Now, four months later, Tempo is taking further action, with a different CEO – and announcing a handful of acquisitions to match its self-billing as an ‘investment platform for rights premium music ”.
This new wave of offers includes the purchase of music catalogs from Wiz Khalifa and Florida Georgia Line, as well as songwriter Brett James and singer / songwriter Mia Fieldes.
In addition, Tempo has acquired catalogs of producers, including Grammy winner Philip Lawrence (“24k Magic” and “Uptown Funk” Bruno Mars; “All I Ask”) Adele) and Frank Ocean collaborator Malay.
The new CEO of Tempo is Josh Empson, who has worked at Providence Equity Partners since 2013, and whose company bio says he “led the training” of Tempo in 2019.
According to Empson LinkedIn profile, he has been serving as Tempo’s Chief Exec since the end of last year.
“In the 18 months since Tempo launched, we have quietly made strategic acquisitions from some of the top songwriting talent of today,” Empson said in a new press release. announcing the latest acquisitions.
“Today, I am delighted to report that Tempo has built a diversified and blue chip portfolio, with significant investable capital to continue to grow.”
“In the 18 months since Tempo launched, we have quietly made strategic acquisitions from some of the top songwriting talent today.”
Josh Empson, Tempo Music Investments
Rob Walker, Tempo Senior Advisor, added: “Tempo has quickly grown into a leading investment platform with a diverse range of catalogs that allows artists to continue participating in their catalog activities in the future.
“We are pro musicians and innovative in our approach to music. We are delighted to partner with a myriad of talents and support their art.
Wiz Khalifa commented: “I am delighted to be partnering with Tempo Music. Their approach to artists and music is both impressive and collaborative. I look forward to our continued growth. “
“Tempo’s approach to artists and music is both impressive and collaborative.”
Shortly after launching in 2019, Tempo announced the acquisition of the copyrights from award-winning songwriters Jeff Bhasker, Shane McAnally and Ben Rector.
Bhasker won the Grammys’ Producer of the Year award and has worked with Kanye West, Harry Styles and Dua Lipa.
McAnally is a three-time Grammy Award winner, while independent artist Rector has licensed the music in numerous TV shows, national ad campaigns, and movie trailers.Music company in the world