$1bn-backed Tempo gets buying; new CEO says it has a ‘best-in-class portfolio’



It’s been a seemingly bumpy 18 months for Tempo Music Investments, the New York-based portfolio firm of Windfall Fairness Companions, because it launched in This autumn 2019.The fund, a associate of Warner Music Group, has gathered over a billion {dollars} to spend… however in a music biz of near-daily catalog acquisition bulletins, has been a conspicuously quiet participant up to now.(A lot so, Merck Mercuriadis, CEO of rival Hipgnosis Songs Fund, instructed MBW earlier this 12 months: “I’ve by no means as soon as felt Tempo in actually any of the offers we’ve made.”)And in January, Tempo’s CEO, Sherrese Clarke Soares – a Morgan Stanley veteran – abruptly exited her place on the firm.Now, 4 months on, Tempo is making new strikes, with a special CEO – and the announcement of a handful of acquisitions that dwell as much as its self-billing as “an funding platform for premium music rights”.This recent spate of offers embrace the acquisition of music catalogs from Wiz Khalifa and Florida Georgia Line, in addition to songwriter Brett James and singer/songwriter Mia Fieldes.As well as, Tempo has acquired catalogs from producers together with the Grammy-winning Philip Lawrence (“24k Magic” & “Uptown Funk“ Bruno Mars; “All I Ask” Adele) and Frank Ocean collaborator Malay.The brand new CEO of Tempo is Josh Empson, who has been at Windfall Fairness Companions since 2013, and whose firm bio says he “led the formation” of Tempo in 2019.In line with Empson’s Linkedin profile, he’s been in place on the Chief Exec of Tempo because the shut of final 12 months.“Within the 18 months since Tempo was launched, we’ve quietly been making strategic acquisitions from a few of as we speak’s prime songwriting expertise,” mentioned Empson in a brand new media launch saying the newest acquisitions.“At the moment, I’m excited to announce that Tempo has constructed a various, best-in-class portfolio, with vital investible capital to continue to grow.”“Within the 18 months since Tempo was launched, we’ve quietly been making strategic acquisitions from a few of as we speak’s prime songwriting expertise.”Josh Empson, Tempo Music InvestmentsRob Walker, Tempo Senior Advisor, added: “Tempo has rapidly grow to be a number one funding platform with a various vary of catalogs that enables artists the chance to proceed to take part within the enterprise of their catalog shifting ahead.“We’re musician-friendly and revolutionary in the way in which we strategy the music. We’re thrilled to be partnering with a myriad of expertise and help their artwork.”Wiz Khalifa commented: “I’m excited to associate with Tempo Music. Their strategy to artists and music is spectacular in addition to collaborative. I’m trying ahead to our continued progress.”“Tempo’s strategy to artists and music is spectacular in addition to collaborative.”Wiz KhalifaShortly after launching in 2019, Tempo introduced the acquisition of copyrights from award-winning songwriters Jeff Bhasker, Shane McAnally and Ben Rector.Bhasker has gained Producer of the 12 months on the Grammys, and labored with the likes of Kanye West, Harry Types, and Dua Lipa.McAnally is a three-time Grammy Award-winner, whereas unbiased artist Rector has licensed music throughout quite a few TV exhibits, nationwide advert campaigns and film trailers.Music Enterprise Worldwide



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