Reservoir Media, a New York-based music rights company, reported a 6% annual revenue increase in its latest quarter and raised its revenue and EBITDA forecast for this fiscal year.
The company reported revenue of $40.7 million The second fiscal quarter of 2025 corresponds to the third quarter of 2024. 5% year-on-year Increased on an organic basis, or 6% annual increase When including acquisitions.
“from snoop dogg arrive Kedran arrive Jack Douglas More importantly, this season represents a period of significant growth for our personnel. Gornar Khosrowshahi said in a statement.
“Reservoir has once again proven its ability to attract top talent that helps define its diverse music genre landscape, pop culture and more.”
The company reported 10% annual increase Publishing revenue jumps to $28.6 millionwhile recorded music revenue fell 1% annual increase arrive $10.7 millionThe company attributed this to a surge in sales in the same period last year, especially physical sales, due to the launch of multiple products from soul album.
Digital publishing revenue accounts for the largest share of publishing revenue, growing year-on-year 22% annual increase arrive $15.6 million. Synch revenue also showed significant growth 30% annual increase arrive $5.8 million. These gains were partially offset by 22% annual increase Performance income fell, $5.1 millionwhile machinery revenue fell 13% annual increasearrive $1.1 million.
In recorded music, digital revenue declines 1% annual increase arrive $7.2 millionwhile physical strength decreases 21% annual increase arrive $1.5 million – again, due to unfavorable comparisons to the De La Soul album released last year.
Neighboring rights income surges 35% annual increase arrive $1.1 millionwhile simultaneous revenue increases 3% annual increase arrive $900,000.
Overall, the company reported Adjusted EBITDA of $17.6 million This season, rising 11% annual increaseReservoir attributed this to revenue growth and improved gross margins.
Operating income is $10.1 millionan increase of $4 million compared to the same period last year, while OIBDA (operating income before depreciation and amortization) was $16.6 millionup 34% annual increase.
The company attributed operating income and OIBDA gains in part to $2.7 million Recoverable legal fees were written off in the same quarter a year ago.
Reservoir reported net income of $200,000 For the current quarter, this is rounded to $0.00 per share, compared to $700,000or $0.01 per share, the same period last year. The decrease was primarily due to a loss in the fair value of swaps during the quarter, compared with an increase in the fair value of swaps in the same period last year.
Reservoir raised its outlook for the fiscal year as earnings data improved and is now publishing US$150 million–$153 million Revenue for the fiscal year ending March 31, 2025. 5% annual increase Revenue jumped at the midpoint, above the previous forecast of $148 million to $152 million.
The company also raised its adjusted EBITDA guidance to $59 million–$62 millionwhich will be a 9% annual increase Jump to the halfway point. That’s up from guidance of $58 million to $61 million in its previous earnings report.
“Reservoir has once again proven its ability to attract top talent that helps define its diverse music genre landscape, pop culture and more.”
Gornar Khosrowshahi Reservoir
“Our ability to refine our revenue guidance range reflects our confidence in the portfolio of assets created by Reservoir-related artists, while internal efforts to control costs and expand margins allow us to improve our outlook for Adjusted EBITDA,” the CFO said. Jim Heindelmeier explain.
“Continued strong cash flow allows us to opportunistically leverage our available debt to pursue additional productive transactions in the foreseeable future. We see a clear path to achieving our adjusted fiscal 2025 financial guidance.
“We see a clear path to achieving our adjusted fiscal 2025 financial guidance.”
Jim Heindelmeyer, Res.
Reservoir struck a number of deals in the fiscal third quarter, including a snoop doggwhich also includes Snoop’s publishing catalog death row records.
The company also has a global publishing deal with the Canadian pop country star Kedranand get the directory Elvis Presley composer billy strangewhich included many of Elvis’ hits.
These transactions will be reflected in Reservoir’s earnings data in the coming quarters.global music business
