US-based Tempo Music has acquired a majority stake in the master recordings and compositions of albums See You On The Other Side and Untitled by alternative metal band Korn.
The company has also acquired the perpetual license (income stream) for the band’s MTV Unplugged album, which also contains many of their best known songs.
$1 billion backed Tempo was launched in 2019 and funded by Providence Equity Partners, a premier private equity firm specializing in the media, communications, education, software and services industries, in partnership with Warner Music Group.
See You On The Other Side was Korn’s seventh studio album featuring titles such as Twisted Transistor, Coming Undone, and Politics.
The album was Platinum certified in 2006 and peaked at No.3 on the US Billboard 200 chart.
Untitled was the band’s eighth studio album featuring titles such as Evolution, Hold On, and Kiss.
The album was Gold certified in 2007, claiming the No.1 spot on the US Billboard Top Rock Albums and No.2 on the US Billboard 200 chart.
Korn was formed in California in 1994 and have to date sold more than 40 million records worldwide. Twelve of the band’s official releases have peaked in the Top 10 of the Billboard 200, eight of which have peaked in the Top 5.
The band have recently completed a sold out US summer tour and have scheduled a European headlining tour in 2022.
“We have always been focused on acquiring ‘modern masters’ from bands or artists who still maintain a contemporary, longstanding relationship with their audiences, an established place within their genre and the ability to support their catalog via touring and new releases.”
Josh Empson, Tempo Music
Josh Empson, Founder & CEO of Tempo Music said: “We have always been focused on acquiring ‘modern masters’ from bands or artists who still maintain a contemporary, longstanding relationship with their audiences, an established place within their genre and the ability to support their catalog via touring and new releases.
“Korn fit that description perfectly. They are still creatively ambitious and hardworking after almost 30 years together, which is hugely inspiring.”
In August, Tempo acquired a portion of Tyler Joseph’s catalog.
The investment included a selection of Joseph’s hits as the songwriter for twenty one pilots, including the Diamond certified Stressed Out, Ride, and Heathens.Music Business Worldwide