Twenty One Pilots frontman Tyler Joseph has sold a portion of his back catalogue, it’s been confirmed.
US-based Tempo Music Investments has acquired a selection of Joseph’s biggest hits as the songwriter for the Ohio duo, including ‘Stressed Out’, ‘Ride’ and ‘Heathens’.
The firm says the deal also includes a new “strategic alliance” which has been launched between Joseph and his long-term manager, Chris Woltman, to work alongside Tempo on other potential investments.
Described as a “platform to promote recording artists and songwriters across the globe”, the $1 billion backed investment firm was launched back in 2019.
Tyler Joseph said, per Music Business Worldwide: “The passion from the Tempo team around the idea of these songs, as well as the long-term strategy of their vision, is powerful for a songwriter.
“I look forward to working with Josh Empson, the team at Tempo, along with Warner Chappell, as we uncover new ways to drive discovery of these songs.”
Tempo’s Josh Empson added: “Tyler is that rare artist whose towering creative talent is matched only by his courage to be honest and vulnerable in his music.
“He has given a powerful and nuanced voice to issues that many of us shy away from talking about.
“His profound authenticity, supported by Chris Woltman’s astute management, has won Tyler millions of fans around the world who feel a deep, abiding, and personal connection to his work.”
“It’s a true privilege for Tempo to partner with Tyler and Chris.”
A fee for the sale is yet to be announced.
Tyler’s sale of the song rights comes days after Fleetwood Mac‘s Christine McVie, who wrote iconic hits such as ‘Little Lies’ and ‘Don’t Stop’, sold her back catalogue of hits to Hipgnosis.
Hipgnosis, which has spent more than $2billion (£1.4billion) buying the rights to hits from iconic artists such as Neil Young, now owns the rights to 48 of 68 tracks on Fleetwood Mac’s most successful albums.
The investment company made waves earlier this yearafter purchasing the catalogues of artists including Blondie and half of Neil Young’s songs in a deal thought to be worth an estimated $150million (£110million).
Twenty One Pilots released their sixth album ‘Scaled And Icy’ back in May, after previewing the project with the singles ‘Shy Away’ and ‘Choker’.