Tempo Music Investments, the New York-based portfolio company of Providence Equity Partners, has had a seemingly bumpy 18 months since its inception in the fourth quarter of 2019.
The fund, a partner of the Warner Music Group, has raised over $ 1 billion in spending … but has been a noticeably quiet player in a music store with almost daily announcements of catalog purchases.
(So much, Merck Mercuriadis, CEO of rival Hipgnosis Songs Fund, told MBW earlier this year: “I’ve never felt pace in any of the deals we literally made.”)
And in January, Tempo CEO Sherrese Clarke Soares, a Morgan Stanley veteran, abruptly resigned from her position with the company.
Now, four months later, Tempo is taking new steps with another CEO – and announcing a handful of acquisitions that do justice to its self-billing as an “investment platform for premium music rights”.
These new offers include the purchase of music catalogs from Wiz Khalifa and Florida Georgia Line, as well as songwriter Brett James and singer / songwriter Mia Fieldes.
Tempo has also acquired catalogs from producers, including Grammy Award winner Philip Lawrence (“24k Magic” and “Uptown Funk” Bruno Mars; “All I Ask” Adele)) and Frank Ocean employee Malay.
The new Tempo CEO is Josh Empson, who joined Providence Equity Partners in 2013 and whose company biography states that he “led” the founding of Tempo in 2019.
According to Empson’s LinkedIn profile, he has been with Tempo’s Chief Exec since late last year.
“In the 18 months since Tempo started, we have quietly made strategic acquisitions of some of the best songwriting talent today,” Empson said in a new media release announcing the latest acquisitions.
“I’m excited to announce today that Tempo has built a diverse, world-class portfolio with significant investable capital to continue growing.”
“In the 18 months since Tempo started, we’ve quietly made strategic acquisitions of some of the best songwriting talent today.”
Josh Empson, Tempo Music Investments
Rob Walker, Tempo Senior Advisor, added, “Tempo has quickly become a premier investment platform with a wide variety of catalogs that allow artists to continue participating in their catalog’s business in the future.
“We are musician-friendly and innovative in the way we deal with music. We are very excited to work with and support a variety of talented individuals. “
Wiz Khalifa commented, “I am very excited to be working with Tempo Music. Her dealings with artists and music are impressive and cooperative. I look forward to our further growth. “
“Tempo’s approach to artists and music is both impressive and collaborative.”
Shortly after launching in 2019, Tempo announced the acquisition of copyrights from award-winning songwriters Jeff Bhasker, Shane McAnally and Ben Rector.
Bhasker was named Producer of the Year at the Grammys and has worked with Kanye West, Harry Styles and Dua Lipa.
McAnally is a three-time Grammy Award winner, while the independent artist Rector has licensed music for numerous television shows, national advertising campaigns and movie trailers.Music business worldwide