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, an independent music company, will conduct a webcast presentation led by CFO Jim Heindlmeyer on March 13, 2023, at 2:00 p.m. PDT. Investors can access the live event and replay through the Investor Relations section of Reservoir's website. Additionally, the company will hold one-on-one meetings with investors at the conference on March 13 and 14, 2023. Established in 2007, Reservoir has a significant market presence, representing over 140,000 copyrights and managing a diverse roster of artists through partnerships with various record labels.
Reservoir Media reported strong financial results for Q3 FY2023, with total revenue of $29.9 million, a 16% increase year-over-year. Music Publishing revenue grew 14% to $20.2 million, driven by digital, performance, and synchronization segments. Recorded Music revenue edged up 1%, reaching $7.6 million. Operating income rose 71% to $4.6 million, while adjusted EBITDA increased 24% to $10.9 million. However, the company faced a net loss of $4.1 million due to one-time tax expenses and debt extinguishment losses. Looking ahead, it raised its full-year revenue guidance to $120-$122 million.
Reservoir Media, Inc. (NASDAQ: RSVR) will release its financial results for the third fiscal quarter ended December 31, 2022, on February 8, 2023, before market open. A conference call is scheduled for the same day at 10 a.m. EST to discuss the results. Investors can access the call via a registration link or through the company’s website, where an archived version will also be available. Reservoir, based in New York City, represents over 140,000 copyrights and 36,000 master recordings. It has received accolades such as Publisher of the Year and frequently holds a Top 10 U.S. Market Share according to Billboard.
De La Soul's Catalog Launch
On March 3, 2023, the Grammy-winning hip-hop trio De La Soul will release their iconic back catalog on digital streaming platforms for the first time, in partnership with Reservoir Media (NASDAQ: RSVR). This follows Reservoir's acquisition of Tommy Boy Music in 2021, which secured the rights to De La Soul's music. The group’s first six albums will be available, coinciding with the 34th anniversary of their debut album, 3 Feet High and Rising. A celebratory single, “The Magic Number,” will drop on January 13, 2023, along with exclusive merchandise.
Reservoir Media (NASDAQ: RSVR) reported a 10% increase in revenue for Q2 FY23, totaling $33.3 million, driven by strong performance in Digital and Synchronization sectors. Music Publishing revenue rose 9% and Recorded Music grew 11% year-over-year. However, Operating Income fell 15% to $6.6 million due to increased administrative costs. The company raised its full-year guidance, expecting revenues of $118 million - $122 million and Adjusted EBITDA of $45 million - $47 million. The cash position stands at $18.8 million with $86.2 million liquidity available.
Reservoir Media, Inc. (NASDAQ: RSVR) will release its financial results for the second fiscal quarter ended September 30, 2022, on November 8, 2022, before market open. A conference call to discuss these results will follow at 10 a.m. EST, with a live audio webcast available on the Investor Relations website. Reservoir, founded in 2007, is a female-led independent music company representing over 140,000 copyrights and 36,000 master recordings. It frequently ranks among the Top 10 U.S. market shares according to Billboard.
Reservoir Media, Inc. (NASDAQ: RSVR) will participate in the Sidoti September Virtual Investment Conference on September 21, 2022. CEO Golnar Khosrowshahi and CFO Jim Heindlmeyer will lead the presentation starting at 3:15 p.m. EDT. Investors can access the live webcast or replay through the Company's Investor Relations page. Reservoir, a leading independent music company founded in 2007, represents over 140,000 copyrights and boasts a strong market presence with a top 10 U.S. market share according to Billboard.
Reservoir Media has welcomed a historic settlement reached by the National Music Publishers’ Association (NMPA), Nashville Songwriters Association International (NSAI), and Digital Media Association (DiMA) concerning mechanical streaming royalty rates. These rates will rise to 15.35% over the next five years, starting in 2023, establishing the highest royalty rates worldwide. This settlement not only avoids a costly trial but includes improvements such as enhanced alternate rate structures and better compensation for songwriters. Reservoir's leadership views this as a significant step towards fair compensation in the streaming industry.
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