Music rightsholder Reservoir Media saw its annual revenues grow by 10% to $158.7m in its last financial year, although that includes the impact of acquisitions. Organically, its revenues were up 7%.
“In addition to notable publishing deals with Snoop Dogg, k.d. lang, and many more, we executed several important acquisitions across the publishing and recorded businesses,” said CEO Golnar Khosrowshahi. “In particular, the additions of U.K. dance and electronic label New State and publishing catalog Lastrada Entertainment were key scale drivers of growth.”
Reservoir’s publishing revenues grew by 12% to $107.4m in its last financial year, while its recorded music income was up 4% to $44.3m. The company said it expects to see growth of around 5% in its revenues in its next financial year to between $164m and $169m.
