Reservoir Media has acquired the publishing catalog of Lastrada Entertainment, adding 5,600 titles to New York-based Reservoir’s library of music rights.
Founder of La Strada Herb Morris Established in 1987 and now run by his sons Stephen Morris and Larry Morris. Its catalog spans all genres from the 1960s onwards, including hits such as captain and tenierof love will keep us together, More rebounds to ounces go through Zapthis whisper‘ The rhythm continuesand Jim Crossof Bad, bad Leroy Brown and Time in a bottle.
The catalog also includes items such as Neil Sedaka, dolly parton, Glen Campbell, carpenters, pit bull, slim Shady, notoriously big, Leon Bridgesand shewait.
The company says the value of its music catalog is enhanced by “frequent and innovative” music sampling, which helped create songs such as: 2Pacof california love, Mariah Careyof we belong togetherand Will Smithof Miami.
The value of the deal was not disclosed.
“We have long admired the incredible catalog that Lastrada and the Moelis family have carefully curated over the years. Stephen and Larry’s deep knowledge of music and their dedication to innovative sampling and synchronization have helped this catalog reach iconic status. Rey LafargueReservoir’s president and chief operating officer said in a statement on Thursday (January 16).
“We are honored that Reservoir is now the birthplace of Lastrada’s songs, and we look forward to preserving the legacy established by the Moelis family and ensuring its continued success.”
“We have long admired the incredible catalog that Lastrada and the Moelis family have crafted over the years.”
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Stephen Moelis, president of Lastrada Music Publishing, said the Moelis family is “proud of the catalog of hits we have been a part of and the personal relationships we have built with talented songwriters.
“Passing the creative torch to Reservoir is a natural next step in continuing the work we started 40 years ago with my father, and we would like to thank [Reservoir founder and CEO] Gornar KhosrowshahiRell Lafargue, and the entire Reservoir team, who became stewards of some of the greatest songs ever written.
Since its founding in 2007, Reservoir has become one of the more well-known music rights buyers in the industry. In an investor fact sheet released in early 2024, the company said it had spent a total of $938 million Regarding the acquisition of music copyrights.
Reservoir reported in its latest fiscal 2025 second quarter (or 2024 third quarter) quarterly earnings report 6% annual increase Revenue increases to $40.7 million. The company reported Adjusted EBITDA of $17.6 million This season, rising 11% annual increaseReservoir attributed this to revenue growth and improved gross margins.
The company raised its full-year guidance to US$150 million–$153 million Revenue for the financial year ending March 31, 2025, which will be 5% annual increase Midpoint increases. It also raised its adjusted EBITDA guidance to $59 million–$62 millionup 9% annual increase Jump to the halfway point.
One of Reservoir’s recent deals is a global publishing partnership with a singer-songwriter Kedran;Get 2Pac producer directory Big D Evans;Songwriter and Guitarist Directory Publishing Rights billy strangefamous for his strokes Elvis Presley hit; and earned Grammy Award-winning producer royalties from the American Record Producers catalog Jack Douglas.global music business
