Reservoir Media Inc
reservoir-media.comWhat Do They Do?
Licenses song compositions for streaming, broadcasts, films and advertising, and sells or licenses recorded music to digital music services and retailers.
10-K for FY2026, filed May 28, 2026As a copyright owner or administrator of musical compositions, we promote, place, market and administer the use of our musical…View ↗
Music publishers generally generate revenues by receiving royalties pursuant to public performance, digital, mechanical, synchronization…View ↗
Synchronization royalties stem from the use of the musical composition in combination with visual images. This includes films or television…View ↗
We generate revenues from the new releases of frontline artists and our recording catalog. We also actively repackage music from our…View ↗
How Do They Make Money?
Music Publishing earns royalties when compositions are used; collecting societies typically send usage reports with payments quarterly or twice a year. Recorded Music earns digital royalties from sales or use, with digital license payments primarily received monthly.
10-K for FY2026, filed May 28, 2026
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10-K for FY2026, filed May 28, 2026
FY2026 revenue by reportable segment ↗
$175.7M
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10-K for FY2026, filed May 28, 2026
$175.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Music Publishing
Usage-based
10-K for FY2026, filed May 28, 2026 |
66%
FY2023: 69%
|
Music Publishing, FY2026
$116.8M Sources
|
Usage-based |
|
Recorded Music
Usage-based
10-K for FY2026, filed May 28, 2026 |
29%
FY2023: 28%
|
Recorded Music, FY2026
$51.5M Sources
|
Usage-based |
Who Are Their Customers?
Digital music services, radio, fitness and social platforms receive music through direct licenses or distribution partners. Physical recordings are sold mainly through wholesale and retail distributors.
10-K for FY2026, filed May 28, 2026Our Current Artist and Catalog recorded music distribution is handled by a mix of direct deals, such as with Amazon, Apple, TikTok and…View ↗
Through our distribution network, our music is being sold in physical retail outlets, as well as in physical form to online physical…View ↗
We sell our physical recorded music products through a variety of different retail and wholesale outlets, including music specialty stores…View ↗
10-K for FY2026, filed May 28, 2026
During the fiscal years ended March 31, 2026 and 2025, a single external customer accounted for 11% of total revenues and is included in…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 5 cents of every revenue dollar as net income in FY2026 and turned 28 cents into free cash flow.
10-K for FY2026, filed May 28, 2026
$38.2MView ↗
10-K for FY2026, filed May 28, 2026
$8.3MView ↗
10-K for FY2026, filed May 28, 2026
$49.7MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q1 FY2026, filed Aug 4, 2026
−$93.1KView ↗
- ▼ −83% (Loss)
- vs −$555.7K in Q1 FY2025
10-Q for Q1 FY2026, filed Aug 4, 2026
Open tableView ↗
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Aug 4, 2026
Reiterated fiscal 2027 revenue and adjusted EBITDA outlook
Revenue guidance remained $186M - $191M and adjusted EBITDA guidance $75M - $79M.
Sources
8-K, filed Aug 4, 2026
Outlook Guidance Growth (at mid-point) Revenue $186M - $191M 7% Adjusted EBITDA $75M - $79M 5%View ↗
Growing. Revenue grew 63% in 4 years, from $107.8M in FY2022 to $175.7M in FY2026, about 13% a year.
Expansion into India
Adds India alongside its Middle East and North Africa work, with PopIndia focused on developing local talent and acquiring publishing and recorded music catalogs.
10-K for FY2023, filed May 31, 2023 10-K for FY2026, filed May 28, 2026In the past five years, we have focused on being a wholistic music company and have strategically expanded to include management services…View ↗
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