In this paper, an approach that estimates the times at which musical beats occur is presented. The system uses a hybrid multi-band decomposition in order to estimate the music tempo. Following this, beat events are tracked by using a dynamic programming approach, which is updated by using short time tempo estimates. The hybrid decomposition is used in order to calculate the tempo by using different onset detection functions in different frequency bands. In addition, a method that estimates which frequency bands provide reliable periodicities is also presented. The accuracy of the model is evaluated by comparing the presented system against existing approaches using a database of 474 songs. Keywords— tempo detection, beat tracking, onset detection, dynamic programming, audio content analysis.