Welcome to our dedicated page for Reservoir Media news (Ticker: RSVR), a resource for investors and traders seeking the latest updates and insights on Reservoir Media stock.
Reservoir Media, Inc. (symbol: RSVR) is a leading independent music publisher based in New York City. Founded in 2007 as a family business, Reservoir has grown from a modest collection of hits to a globally recognized boutique publisher. The company now has offices in Los Angeles, Toronto, and London, and boasts over 200 #1 releases worldwide.
Reservoir's diverse catalog spans multiple genres and includes legendary works by artists such as Billy Strayhorn, Bobby Pickett, David Crosby, Gram Parsons, Irving Burgie, John Denver, and Ricky Lee Jones. The company's contemporary-classic catalogs feature Big & Rich, Lil Jon, Phantogram, Sheryl Crow, and Stephen “Static Major” Garrett, among others. Reservoir also represents current hits performed by Ariana Grande, Drake, Lady Gaga, Major Lazer, Meghan Trainor, Tiësto, and several others.
The company's core segments include Music Publishing and Recorded Music, with the Music Publishing segment generating the majority of its revenue. Reservoir is committed to fostering inclusion, accountability, and combating climate change, which are evident in its latest initiatives.
Reservoir Media has demonstrated strong financial performance, with a 31% top-line growth driven by digital performance across its recorded music and music publishing segments. According to CEO Golnar Khosrowshahi, the company's business model and targeted investments have led to consistent double-digit revenue growth. Reservoir focuses on diversifying its roster and catalog, maintaining a presence in emerging markets, and bringing value to its creators and their copyrights.
Reservoir Media (NASDAQ: RSVR) has announced a new publishing deal with Platinum-selling producer and songwriter Aaron Zuckerman. The deal covers Zuckerman's recent co-write, 'White Claw' by Yung Gravy and Shania Twain, and the majority of Yung Gravy's upcoming album. Zuckerman has an impressive portfolio, including Gold record 'Devil Doesn't Bargain' by Alec Benjamin, Lil Wayne's 'Dreams,' and Bebe Rexha's '2 Souls On Fire' featuring Quavo. He has worked with numerous artists like Liam Payne, MGK, and Travis Barker. Upcoming projects include collaborations with BRELAND and Lovelytheband. Zuckerman expressed excitement about joining Reservoir, emphasizing their shared commitment to exceptional music. Reservoir executives praised Zuckerman's versatility and creative talent.
Reservoir Media (NASDAQ: RSVR) reported strong financial results for Q4 and Fiscal Year 2024, ending March 31, 2024. Annual revenue grew 18% to $144.9 million. Music Publishing Revenue increased by 15%, while Recorded Music Revenue surged 22%. Operating Income reached $24.6 million, a 17% increase. However, Net Income fell sharply to $0.8 million, or $0.01 per diluted share, from $2.8 million last year. Adjusted EBITDA grew by 20% to $55.6 million. Key acquisitions included catalogs of The Spinners and Latin music icon Rudy Perez. The fiscal 2025 outlook predicts mid-single-digit revenue and EBITDA growth.
Reservoir Media (NASDAQ: RSVR), an independent music company, will release its financial results for the fourth quarter and fiscal year 2024 on May 30, 2024, before market open. The fiscal year ended on March 31, 2024.
The company will hold a conference call at 10 a.m. Eastern Daylight Time to discuss these results. The discussion will be accessible via a live audio webcast on the company’s Investor Relations website. An archived version of the webcast will also be available. Interested parties can register for the call to receive a dial-in number and PIN.
FAQ
What is the current stock price of Reservoir Media (RSVR)?
What is the market cap of Reservoir Media (RSVR)?
What is Reservoir Media, Inc.?
When was Reservoir Media founded?
What are the main business segments of Reservoir Media?
Where are Reservoir Media's offices located?
Which artists are part of Reservoir Media's catalog?
What recent financial performance has Reservoir Media shown?
Who is the CEO of Reservoir Media?
What recent initiatives has Reservoir Media undertaken?
How does Reservoir Media generate most of its revenue?
What is the significance of Reservoir Media's catalog?
