Warner Music acquires controlling stake in Tempo Music from Providence Equity
Warner Music Group (WMG) has acquired a controlling stake in Tempo Music Investments, an investment platform for premium music rights, from Providence Equity Partners, which will remain a minority investor in Tempo and continue to work with WMG in an advisory capacity.
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WMG and Providence partnered to launch Tempo in 2019, combining Providence’s capital and investment expertise with WMG’s deep music industry experience, resources, and network to support, promote, and build value around artists and songwriters globally.
Through its disciplined approach to investments and collaborative work with creative talent, Tempo has amassed a diverse portfolio that focuses on empowering artists and songwriters, while delivering compelling financial results. WMG’s investment will also become more accretive over time, as other rights revert to Tempo, and expand the scope of WMG’s administration and distribution.
Guy Moot, Co-Chair and CEO of Warner Chappell said: “By acquiring Tempo’s impressive catalog, we’re expanding Warner Chappell’s reach, bringing rights from songwriters we currently don’t represent, as well as additional rights from songwriters with whom we’re already partners. Josh Empson has assembled a thoughtful, well-rounded catalog and I’m excited to dig into new opportunities and unlock more value for these songs.”
Michael Ryan-Southern, WMG’s EVP, Chief Corporate Development Officer, added: “WMG and Tempo have a long-standing history and aligned interests in uplifting great music and
