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. reports news as an independent music company with Music Publishing and Recorded Music operations. The company represents copyrights and master recordings, including catalog titles dating back to 1900, and its recorded music activity includes Chrysalis Records, Tommy Boy Music, and Philly Groove Records. Reservoir also manages artists through ventures with Blue Raincoat Music and Big Life Management.
Recurring updates cover quarterly results, segment revenue trends, digital and performance royalties, synchronization and neighboring rights activity, catalog acquisitions, earnings calls, and corporate governance matters. Recent company communications also include board and special committee processes tied to unsolicited strategic interest, framed alongside Reservoir's ongoing publishing, recorded music, and rights-management business.
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.
Feed Media Group has announced a partnership with Reservoir Media (NASDAQ: RSVR) to integrate Reservoir's catalog of over 130,000 songs into Feed Media Group's Adaptr platform. This platform offers a comprehensive solution for startups and app developers to incorporate licensed music into their applications easily and legally. Feed Media Group emphasizes the importance of protecting artists while ensuring that companies can access high-quality music.
Reservoir Media, Inc. (NASDAQ: RSVR) announced it will release its financial results for the second fiscal quarter ended September 30, 2021, before market open on November 9, 2021. A conference call to discuss the results will follow at 10 a.m. EST on the same day, accessible via the Company's Investor Relations website. Reservoir, an independent music company based in New York, represents over 130,000 copyrights and has a significant market presence, holding a Top 10 U.S. market share according to Billboard.
Reservoir Media (NASDAQ: RSVR) has announced a worldwide publishing deal with singer-songwriter Madison McFerrin, covering her entire catalog and future works. McFerrin, noted for her impressive vocal range and innovative sound, has released two well-received EPs, including 'You + I,' which has over 4 million streams. Her upcoming full-length album is anticipated in 2022. The partnership aims to enhance her career and expand her audience, with Reservoir's VP of A&R expressing excitement about supporting her growth.
Reservoir Media, Inc. (NASDAQ: RSVR) announced a new publishing deal with Scottish singer-songwriter Emeli Sandé, covering her upcoming album and future works. Sandé has experienced significant success in both the U.K. and U.S., with several chart-topping hits. Her debut album, Our Version of Events, was highly acclaimed, reaching #28 on the Billboard 200. The company aims to enhance Sandé's presence in the U.S. market as part of their growth strategy.
Reservoir Media (NASDAQ: RSVR) has announced a significant investment in Audio Up, contributing to their $12 million Series B funding round. This partnership aims to enhance Audio Up's ecosystem of premium audio content, utilizing Reservoir's extensive copyright catalog. Audio Up, founded in 2020 by Jared Gutstadt, has established itself in scripted audio entertainment, with notable podcast properties featuring high-profile names. Reservoir's CEO remarked on the transformative nature of this collaboration, emphasizing its potential to redefine the audio entertainment landscape.
Reservoir Media, Inc. (NASDAQ: RSVR) announced a new agreement between the National Music Publishers’ Association and Roblox that settles previous claims and lays the groundwork for future partnerships. This collaboration will enhance creative experiences in the gaming environment and drive revenue through virtual events and music integration. With over 48 million daily active users, Roblox aims to expand music's role in its ecosystem. The agreement highlights the commitment of both organizations to advance music rights and engage users in innovative ways.
Reservoir Media, Inc. (NASDAQ: RSVR) announced a new agreement with the National Music Publishers' Association (NMPA) and Twitch to enhance compensation and visibility for songwriters. This collaboration aims to integrate music publishers into Twitch's gaming platform, offering new revenue opportunities and interactive experiences for fans. Reservoir’s CEO, Golnar Khosrowshahi, emphasized the importance of this initiative for both creators and publishers. The partnership marks a significant advancement in valuing music contributions within the gaming context.