Warner Music Acquires Controlling Stake in Tempo Music

Warner Music Group (WMG) has acquired a controlling stake in Tempo Music Investments from Providence Equity Partners, which remains a minority investor and advisor. WMG and Providence co-founded Tempo in 2019, combining investment capital with WMG’s industry expertise to support and grow value for artists and songwriters worldwide.

Through its focused approach to investing and collaborative partnership with creative talents, Tempo has gathered a unique portfolio that centres on the value of empowering creators of music whilst offering attractive performance metrics. Additional returns will materialize from such investments over the passage of time because other rights revert to Tempo. WMG's administration, and distribution operations, will consequently become even bigger.

Guy Moot, Co-Chair and CEO of Warner Chappell stated, “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 catalogs. This deal is a natural fit for us, and a good example of how our investment strategy is designed to build our scale and influence, while delivering additional revenue at a high margin.”

Michael Dominguez, Senior Managing Director and Chief Investment Officer at Providence, said, “The Tempo team has built a high-quality catalog over the years with top artists and songwriters, and has benefitted from a close partnership with WMG since its foundation. This is an exciting next step in the company’s evolution and a natural home for its catalog. We look forward to continuing to work with WMG and to support Tempo’s next phase of growth.”

Since its launch, Tempo has obtained music rights from some of the best songwriters today, among these Warner Chappell co-publishes, for example, are Twenty One Pilots' Tyler Joseph, multi-platinum-selling recording artist Wiz Khalifa, country duo Florida Georgia Line, and GRAMMY Award-winning songwriters Brett James and Shane McAnally and Lukas Graham songwriters Stefan Forrest, Morten Pilegaard, Morten Ristorp Jensen, and Jaramye Daniels.

Tempo has also secured rights from top songwriters, artists, and producers including artists such as the Jonas Brothers, Ben Rector and Korn; singer-songwriter Mia Fieldes; GRAMMY Award-winning songwriter, producer, and CMNTY Culture founder Philip Lawrence ("24k Magic" & "Uptown Funk" Bruno Mars, "All I Ask" Adele, and more); GRAMMY Award-winning songwriter, producer, engineer, and Frank Ocean collaborator Malay; and GRAMMY Award-winning artist, songwriter, and producer Jeff Bhasker.

Moelis & Company acted as financial advisor and legal advisor to Tempo and Providence in the form of Weil, Gotshal & Manges LLP.