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 has signed Egyptian rapper Mohamed Ramadan to a worldwide publishing deal and acquired 100COPIES, an Egyptian label, in partnership with PopArabia. These moves are part of Reservoir's strategy to expand in emerging markets. Ramadan, a prominent figure in the MENA music scene, has over 4.65 billion YouTube views and aims to reach a global audience. The acquisition of 100COPIES aligns with the growth of Mahraganat music. Reservoir has established a strong presence in the MENA region, which saw a 35% revenue increase in 2021, according to the IFPI.
Reservoir Media, Inc. (NASDAQ: RSVR) announced that its Founder and CEO, Golnar Khosrowshahi, was honored in Variety’s New York Women’s Impact Report 2022, highlighting influential female leaders in various sectors. Khosrowshahi's recognition adds to her recent accolades, including being named Billboard’s Executive of the Year and appearing on its Power List. Under her leadership since its founding in 2007, Reservoir has evolved into the first female-founded and led publicly traded independent music company in the U.S., representing over 140,000 copyrights.
Reservoir Media (NASDAQ: RSVR) announced a significant acquisition of the catalog of late lyricist Larry Kusik, known for iconic film theme songs from The Godfather and Romeo and Juliet. His notable works include the award-winning "Speak Softly Love" and the Grammy-nominated "A Time For Us." Reservoir aims to preserve and promote Kusik's legacy, expanding its catalog which now includes over 140,000 copyrights. This move strengthens Reservoir's position as a leading independent music publisher, reflecting its commitment to maintaining influential musical heritage.
Reservoir Media, Inc. (NASDAQ: RSVR) has announced the acquisition of rights to the entire catalog of acclaimed film score composer Henry Jackman. This includes scores for major films like the Captain America series and Wreck-It Ralph. With a background in classical music and electronic production, Jackman has worked with Hans Zimmer on blockbuster scores since 2006. Reservoir aims to expand its film score catalog further, enhancing its market position. This strategic acquisition aligns with Reservoir's growth, portraying future revenue potential from Jackman’s celebrated works.
Reservoir Media (NASDAQ: RSVR) has announced a global publishing agreement with Grammy-winning artist Killer Mike. This deal encompasses both his existing catalog and future works. Killer Mike, part of the hip-hop duo Run The Jewels, has achieved critical acclaim with his albums, including RTJ4, which reached the Top 10 on the Billboard 200. Reservoir, founded in 2007, is recognized as the first publicly traded independent music company in the U.S., managing over 140,000 copyrights and securing a significant U.S. market share.
Reservoir Media, Inc. (NASDAQ: RSVR) announced its participation in the 34th Annual ROTH Conference from March 13-15, 2022, at the Ritz Carlton in Dana Point, CA. CFO Jim Heindlmeyer will present on March 15 at 2:30 PM ET and will hold meetings with investors. Interested parties can access a live webcast or a replay through the Investor Relations section of Reservoir's website. Reservoir is a leading independent music company with over 140,000 copyrights and 36,000 master recordings, recognized for its significant market share and multiple awards in the industry.
Reservoir Media (NASDAQ: RSVR) has extended its partnership with renowned songwriter Ali Tamposi, affirming its commitment to nurturing top talent. Tamposi's catalog boasts over 50 billion global streams, including her Diamond-certified hit 'Havana.' As a dominant force in pop music, Tamposi has multiple acclaimed collaborations and Grammy nominations, reinforcing her status in the industry. Reservoir's CEO highlighted the successful relationship, emphasizing its investment in songwriters as vital for future growth. This partnership is positioned to enhance Reservoir's market presence.
Reservoir Media (NASDAQ: RSVR) has announced a deal to acquire a stake in the catalog of influential hip-hop producer Larry Smith. The deal includes pivotal works such as Whodini's albums Escape and Back in Black, which were crucial in mainstreaming hip-hop. Escape was the first hip-hop album to be certified Platinum and broke into the Billboard 200 Top 40. Smith's contributions to the genre are acknowledged as transformative, with his work influencing the direction of hip-hop from the late 70s through the mid-80s.
Reservoir Media reported a 26% year-over-year increase in top-line revenue, reaching $27.1 million for Q3 FY22, driven by a 147% surge in Recorded Music revenues. Music Publishing revenue rose 4% with an organic growth adjustment of 22%. Despite a 19% decline in operating income to $4.0 million, the company raised its full fiscal year guidance, projecting revenue between $103-$105 million and adjusted EBITDA of $40-$41 million. Noteworthy acquisitions and strategic M&A efforts contribute to optimistic revenue growth prospects.
Reservoir Media (NASDAQ: RSVR) has acquired the producer catalog of Buddy Cannon, a prominent figure in country music and Hall of Fame member. This acquisition includes rights to all Cannon's collaborations with Kenny Chesney from 1997 to 2017, which have collectively achieved over three billion streams and 31 million album sales. Cannon's noteworthy contributions include popular tracks like "American Kids" and "You and Tequila." Reservoir's EVP of Creative expressed enthusiasm for continuing to expand their country catalog with Cannon's legacy.
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