Reservoir Acquires Rights to the Catalog of Fred Parris, Founder of The Five Satins
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.
- Acquisition of Fred Parris's catalog may enhance Reservoir's music portfolio.
- Potential for increased revenue through new opportunities for classic works.
- Strengthens Reservoir's reputation as a key player in the independent music market.
- None.
NEW YORK, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today acquired a stake in the publishing catalog of Fred Parris, the iconic writer, lead vocalist and founder of the all-time top doo-wop group The Five Satins. Parris is best known as the writer and lead singer of “In the Still of the Night.”
“In the Still of the Night” has been ranked among the top doo-wop songs of all time, also having been recorded by Boyz II Men and Debbie Gibson. The song is best known for its use in the Dirty Dancing film soundtrack, with the soundtrack album having sold more than 33 million copies worldwide to date, as well as its predominant use in the Martin Scorsese film The Irishman and in The Buddy Holly Story.
On the deal with Reservoir, Parris said, “I am extremely pleased to make this agreement with Faith Newman and the Reservoir team, and I’m thankful for all their enthusiasm. I know they genuinely care about my work and are avid supporters.”
Marvin Katz, Parris’ attorney, who represented Parris in the deal, added, “Fred and I are extremely happy to have been able to enter into this agreement with Reservoir. Representing Fred has been a complete joy for me and the continuance of our great relationship. Thanks to the great Reservoir team for helping to make this happen.”
Faith Newman, Reservoir Executive Vice President of A&R and Catalog Development, also commented, “Fred Parris helped define the genre of doo-wop, and we’re honored to be a part of maintaining the piece of history he created. We look forward to finding new opportunities for his works and fostering a renewed love for these classics.”
ABOUT RESERVOIR
Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, and Abu Dhabi. Reservoir is the first U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir has grown to represent over 130,000 copyrights and 36,000 master recordings with titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir holds a regular Top 10 U.S. Market Share according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s The A&R Awards, and won Independent Publisher of the Year at the 2020 Music Week Awards.
Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Records, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management.
Source: Reservoir Media, Inc.
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