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Warner Music Group (WMG) has acquired a controlling stake in Tempo Music, further expanding its intellectual property portfolio with the rights to songs by artists such as Bruno Mars, Adele, and Wiz Khalifa. The deal values Tempo at approximately $450 million, according to sources familiar with the matter.
Following the announcement, Warner Music’s shares saw a 1.1% increase in premarket trading.
The acquisition strengthens Warner Chappell, Warner Music’s publishing arm, by broadening its catalog to include rights from new and existing songwriters. “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,” said Guy Moot, CEO of Warner Chappell.
Warner Music had initially partnered with investment firm Providence Equity Partners to launch Tempo in 2019. While Warner now holds a controlling stake, Providence will retain a minority position and continue working with Warner in an advisory role. Tempo’s catalog includes music from prominent songwriters, producers, and artists such as Tyler Joseph of Twenty One Pilots, the Jonas Brothers, and Wiz Khalifa. Additionally, Warner Music reported first-quarter revenue of $1.67 billion, slightly surpassing analysts’ expectations of $1.66 billion.
Melissa Enoch
The post Warner Music Gains Rights To Bruno Mars, Adele Songs In Tempo Deal appeared first on Arise News.
