Tempo Music Investments, launched by Providence Equity Partners in 2019 with a $650 million war chest, announced a spate of acquisitions it has made since its inception, which consists of the music catalogs of Wiz Khalifa, Florida Georgia Line, Brett James, Mia Fieldes, Philip Lawrence and Malay.
“In the 18 months since Tempo was launched, we’ve quietly been making strategic acquisitions from some of today’s top song-writing talent,” Tempo CEO Josh Empson said in a statement. “Today, I’m excited to announce that Tempo has built a diverse, best-in-class portfolio, with significant investible capital to keep growing.”
Prior to this announcement, Tempo had been known for its acquisitions of select copyrights of the song catalogs of Jeff Bhasker, Shane McAnally and Ben Rector; and while sources had told Billboard that Tempo has been steadily involved in acquiring other music rights all along since then, this announcement marks the first acknowledgement of its subsequent deals.
“Tempo has quickly become a leading investment platform with a diverse range of catalogs that allows artists the opportunity to continue to participate in the business of their catalog moving forward,” Tempo senior advisor Rob Walker said in a statement. “We are musician friendly and innovative in the way we approach the music. We are thrilled to be partnering with a myriad of talent and support their art.”
Khalifa said in a statement that he was excited to be partnering with Tempo Music. “Their approach to artists and music is impressive as well as collaborative,” Khalifa added. “I’m looking forward to our continued growth.”
In making the announcement about its acquisitions, Tempo — which has a partnership with the Warner Music Group that provides the music investment firm with services—didn’t give specific details about each deal, except to say the artists/songwriters in general can continue to participate “in the business” of their catalogs moving forward.
In response to questions on what kind of acquisitions it has done, a spokesperson says that depending on the deal Tempo mainly bought publishing royalties and some writer’s share, as well as some master recording royalties.