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 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.
Reservoir Media, Inc. (NASDAQ: RSVR) announced a worldwide publishing deal with hit writer-producer Warren “Oak” Felder on February 1, 2022. This agreement builds on a joint venture from 2017 and includes all future works by Felder. Known for his collaborations with top artists like Demi Lovato and John Legend, Felder's partnership aims to enhance Reservoir's creative output. Reservoir, a leading independent music company, continues to expand its roster with high-profile talent, reinforcing its position in the music industry as a top publisher.
Reservoir Media, Inc. (NASDAQ: RSVR) will announce its third fiscal quarter results for the period ending December 31, 2021, on February 8, 2022, before market opening. A conference call to discuss these results will take place at 10 a.m. EST that same day, accessible via a live audio webcast on the company’s Investor Relations website. Reservoir is notable for being the first publicly traded independent music company in the U.S. and manages a vast catalog of over 140,000 copyrights and 36,000 master recordings.
Reservoir Media, Inc. (NASDAQ: RSVR) announced the acquisition of the publishing and recorded music catalogs of Grammy Award-winning artist Travis Tritt. This deal encompasses Tritt's complete body of work, including his latest album, Set In Stone. Tritt, known for his significant contributions to the country genre, has achieved over 30 million album sales and multiple Platinum certifications. Reservoir aims to strengthen its country music portfolio and build on its existing catalog of classics. Tritt's representation was handled by Keller Turner Andrews & Ghanem, PLLC.
Reservoir Media, Inc. (NASDAQ: RSVR) has announced the acquisition of the publishing catalog of late Grammy-winning DJ Fred Rister. This catalog includes iconic collaborations with David Guetta, such as the record-breaking hit 'I Gotta Feeling' by the Black Eyed Peas. The acquisition aims to preserve Rister's legacy and highlights his significant contributions to the Dance, Pop, and Electronic music genres. Reservoir continues to expand its portfolio, representing over 140,000 copyrights and aiming to enhance its market share.
Reservoir Media, Inc. (NASDAQ: RSVR) has announced a global publishing agreement with 4x Grammy winner Michael League and his band Snarky Puppy. This deal also includes representation of League's GroundUP Music, home to many of Snarky Puppy's collaborators. Founded in 2003, Snarky Puppy has won four Grammys and is recognized in the jazz genre. GroundUP Music supports Snarky Puppy and its members’ solo careers, with significant projects on the horizon, including a new album, Empire Central. Reservoir continues to expand its influence in the music industry.
Reservoir Media, Inc. (NASDAQ: RSVR) has acquired a stake in the publishing catalog of Fred Parris, founder of The Five Satins, known for the classic doo-wop song, “In the Still of the Night.” This track has seen significant cultural impact, notably featured in the Dirty Dancing soundtrack, which sold over 33 million copies globally. Reservoir aims to enhance the legacy of Parris’s works and explore new opportunities. Reservoir, the first publicly traded independent music company in the U.S., represents over 130,000 copyrights and maintains a robust market presence.
Reservoir Media (NASDAQ: RSVR) announced a new publishing deal with Los Bitchos, a London-based instrumental band known for their unique genre of "instrumental psychedelic sunshine Cumbia." Los Bitchos gained attention with their singles "Good to Go" and "Las Panteras," and are set to release their debut album, Let the Festivities Begin!, in February 2022. The band expressed excitement about their collaboration with Reservoir, while the company's U.K. Head of Creative praised the band as a refreshing addition to their roster. Reservoir has established itself as a leading independent music company.
Reservoir Media, Inc. (NASDAQ: RSVR) announced the acquisition of hit songs by renowned songwriter and producer Dallas Austin, known for his extensive catalog including works with Boyz II Men, Madonna, and TLC. This strategic acquisition aims to enhance Reservoir's music offerings and legacy. Austin's accolades include his induction into the Songwriters Hall of Fame in 2019, exemplifying his impact on the music industry. Reservoir remains committed to expanding its portfolio and ensuring the longevity of Austin's influential music.
Reservoir Media reported a 45% revenue increase for Q2 FY22, totaling $30.4 million, driven by a 149% growth in recorded music and a 26% increase in music publishing revenue. Operating income rose 49% to $7.9 million, while net income reached $4.5 million, a 61% increase year-over-year. The company projects a 25% growth for FY22, concluding March 2022. Key acquisitions and deals with artists like Joni Mitchell enhanced their catalog, positioning them for long-term success.
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