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Mondo.NYC Speaker

Sherrese Clarke Soares

Chief Executive Officer, Tempo Music

Sherrese Clarke Soares is the Chief Executive Officer of Tempo Music. Clarke Soares was recruited by Providence as the founding CEO to set, lead and execute the vision for the new venture. In addition to her role as Tempo’s chief executive, Clarke Soares will set the investment strategy for Tempo Music, chair the investment committee and serve on the board of directors. She most recently served as Managing Director at Morgan Stanley where she spent the last decade of her career. She founded & led, globally, the Entertainment, Media, & Sports Structured Solutions platform. Tempo Music was founded as a result of her leading the strategic structuring of a special purpose acquisition platform, structuring the initial catalog acquisitions and striking a strategic partnership with Warner Music Group.

While at Morgan Stanley, she served in several capacities during her tenure including managing the firm’s balance sheet, as Head of North American Relationship Lending – managing the origination and execution of $85BN+ in loan commitments and serving on the Capital Commitment Committee. Prior to that, she was one of three founding senior professionals tasked with developing the Entertainment Practice at CIT Group, where she developed the business plan, investment rationale and criteria for investment in entertainment companies. Ms. Clarke Soares graduated from Georgetown University and Harvard Business School.

CLE: The New Music Acquisitions Market

The M&A market for music catalogs and companies has evolved significantly over the past few years. New buyers are entering the marketplace on a regular basis, with funding from a range of domestic and foreign investors. Writers and rights owners who had not considered selling are now rethinking those decisions as sale multiples continue to increase. As the economic impact of streaming continues to develop, valuation models continue to evolve in ways that are more favorable to sellers, especially of more recent material. All of this is complicated by the COVID-19 crisis and its current and predicted effect on licensing income and the consumer market. This panel will cover how the M&A market continues to develop and how it is likely to be impacted by these changes to industry economics.