Reservoir Media Inc (NASDAQ: RSVR) is a music rights company that owns and administers copyrights in musical compositions and master sound recordings across two segments: Music Publishing and Recorded Music. It makes money by collecting royalties each time its owned or controlled music is streamed, downloaded, broadcast, performed publicly, licensed for synchronization in film or television, or sold in physical formats. Synchronization income alone accounted for 13% of total revenues for the fiscal year ended March 31, 2025. The company competes with major music publishing and record companies for songwriters, recording artists, and catalog acquisitions. Reservoir's Recorded Music catalog includes acquired labels such as Chrysalis Records, Tommy Boy, and New State. Its Music Publishing catalog spans genres including pop, rock, jazz, classical, country, R&B, hip-hop, and Broadway standards. Corporate headquarters are in New York City, with additional offices in Nashville, Los Angeles, Toronto, London, and Abu Dhabi. The company carries a secured line of credit with $391.8 million outstanding as of March 31, 2025, and did not pay dividends to shareholders during fiscal year 2025.

Revenue model

Royalty-based revenue from mechanical licenses, performance licenses, synchronization licenses, and digital streaming and download agreements. Revenue is collected from streaming platforms (ad-supported and subscription), broadcast and public performance, synchronization licensing for film, TV, advertising, and video games, digital licensing for social media and fitness platforms, and physical recorded music sales through retail and wholesale outlets. Synchronization income was 13% of total revenues for the fiscal year ended March 31, 2025.

Products and services

Music Publishing: ownership and administration of a catalog of musical compositions across pop, rock, jazz, classical, country, R&B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, techno, alternative, and gospel genres. Recorded Music: master sound recordings via acquired labels including Chrysalis Records, Tommy Boy, and New State. Synchronization licensing services for film, TV, trailers, advertisements, and video games.

Customers and end markets

Digital streaming platforms (ad-supported and subscription), downloading services, broadcast licensees, film and television studios, advertisers, video game publishers, social media platforms, home fitness platforms, music education and therapy services, and physical retail and wholesale music outlets.

Value-chain role

Copyright owner and administrator of musical compositions and master sound recordings. Signs songwriters and recording artists, acquires catalogs, promotes and places music for licensing, collects and distributes royalties, and distributes recorded music through digital service license agreements and physical retail channels.

Geographic exposure

Headquartered in New York City. Domestic offices in Nashville and Los Angeles. International offices in Toronto, London, and Abu Dhabi. Operations conducted through subsidiaries and sub-publishers globally.

Competitors

Other major music publishing companies, Other major record companies

Source: SEC 10-K, filed 2025-05-28

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