Tempo Music Investments, launched by Providence Equity Partners in 2019 with a $650 million war chest, announced a series of acquisitions it has made since its inception, which includes the music catalogs of Wiz Khalifa, Florida Georgia Line, Brett James, Mia Fieldes, Philip Lawrence and Malay.
“In the 18 months since the launch of Tempo, we’ve quietly made strategic acquisitions of some of today’s top songwriting talent,” Tempo CEO Josh Empson said in a statement. a statement. “Today, I am delighted to report that Tempo has built a best-in-class diversified portfolio with significant investable capital to continue to grow.”
Prior to this announcement, Tempo was known for acquiring certain song catalog copyrights from Jeff Bhasker, Shane McAnally and Ben Rector; and while sources had said Billboard that Tempo has been steadily involved in acquiring other music rights since then, this announcement marks the first acknowledgment of its later deals.
“Tempo has quickly become a leading investment platform with a diverse lineup of catalogs that allows artists to continue to participate in their catalog activity in the future,” said Rob Walker, Senior Advisor at Time, in a press release. “We are musician friendly and innovative in our approach to music. We are thrilled to partner with a myriad of talent and support their art.
Khalifa said in a statement that he was delighted to partner with Tempo Music. “Their approach to artists and music is impressive and collaborative,” added Khalifa. “I look forward to our continued growth.”
In announcing its acquisitions, Tempo – which has a partnership with the Warner Music Group which provides services to the music investment firm – did not give specific details about each deal, except to say that the artists/songwriters in general can continue to participate “in the business” of their catalogs to move forward.
In response to questions about the type of acquisitions it made, a spokesperson said that under the deal, Tempo was primarily buying publishing royalties and a portion of the writer, as well as royalties master record.