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 (NASDAQ: RSVR) is a leading independent music company specializing in publishing and recorded music management. This news hub provides investors and industry professionals with essential updates on corporate developments, catalog acquisitions, and strategic partnerships.
Access real-time announcements including earnings reports, licensing agreements, and executive leadership changes. Our curated collection features official press releases alongside market analysis relevant to RSVR's position in the global music industry.
Key coverage areas include music copyright acquisitions, digital licensing innovations, international expansion updates, and financial performance disclosures. Bookmark this page for direct access to primary source materials that impact RSVR's market performance and industry standing.
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.
Reservoir Media, Inc. (NASDAQ: RSVR) will host a virtual Town Hall on August 25, 2022, at 4:00 PM EDT. Founder and CEO Golnar Khosrowshahi will discuss recent Copyright Royalty Board (CRB) developments with David Israelite, President of the National Music Publishers’ Association. The event includes a Q&A session for online questions. Participants can register for the live webcast on Reservoir's website, where a replay will also be available.
Reservoir is a leading independent music company, representing over 140,000 copyrights and 36,000 master recordings.
Reservoir Media achieved a remarkable 46% revenue growth for Q1 FY23, reaching $24.3 million. This growth was driven by an 80% increase in Recorded Music revenue and a 35% rise in Music Publishing revenue. Operating income improved to $1.3 million, with OIBDA rising 56% to $6.7 million and Adjusted EBITDA up 73% to $7.4 million. The company reaffirmed its fiscal 2023 guidance, targeting revenues between $116 million and $121 million. Despite higher administrative costs, the outlook remains positive as Reservoir focuses on strategic M&A worth $100 million.
Reservoir Media (NASDAQ: RSVR) has acquired the publishing and recorded music rights catalogs from drummer Matt Sorum, known for his role in iconic bands like Guns N’ Roses and Velvet Revolver. This deal includes future publishing rights, enhancing Reservoir's catalog. Sorum expressed his excitement about the partnership, recognizing the value Reservoir places on his work. The company, founded in 2007, represents over 140,000 copyrights and boasts a strong market presence. This acquisition is aimed at further solidifying Reservoir's position in the independent music sector.
Reservoir Media, Inc. (NASDAQ: RSVR) will release its financial results for the first fiscal quarter ended June 30, 2022, on August 5, 2022, before market open. A conference call to discuss these results is scheduled for 10 a.m. EDT the same day. Interested parties can join via a registration link provided in the release. Reservoir, an independent music company, holds a significant market share and represents over 140,000 copyrights, showcasing its prominence in the music industry.
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