Reservoir Media, Inc. (RSVR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los derechos musicales y la propiedad intelectual, Reservoir Media, Inc. (RSVR) surge como una potencia de innovación estratégica, transformando cómo los catálogos musicales se administran, monetizan y aprovechan los paisajes de entretenimiento global. Al cerrar magistralmente la brecha entre artistas, editores y plataformas digitales, esta compañía de pensamiento a futuro ha creado un modelo de negocio sofisticado que convierte la creatividad musical en una máquina de generación de ingresos sólida y múltiple. Sumérgete en el intrincado lienzo de modelo de negocio que revela cómo el embalse de los medios convierte el arte musical en un ecosistema de negocios estratégico.

Reservoir Media, Inc. (RSVR) - Modelo de negocios: asociaciones clave

Editores de música y sellos discográficos

Reservoir Media mantiene asociaciones estratégicas con los siguientes editores de música y sellos discográficos:

Pareja	Detalles de la asociación	Tamaño de catálogo
Sony Music Publishing	Administración del Catálogo Global	Más de 250,000 canciones
Grupo de publicación de música universal	Colaboración de gestión de derechos	Aproximadamente 200,000 composiciones

Artistas y compositores independientes

Reservoir Media colabora con creadores independientes a través de asociaciones específicas:

• Lista activa de más de 500 artistas independientes
• Inversión anual en adquisiciones de nuevos artistas: $ 15 millones
• Avances de regalías que van desde $ 50,000 a $ 500,000

Plataformas de transmisión digital

Plataforma	Participación de ingresos	Usuarios activos mensuales
Spotify	85% de los ingresos de transmisión	456 millones de usuarios
Música de Apple	80% de los ingresos de transmisión	80 millones de suscriptores

Compañías de entretenimiento y medios

Las asociaciones clave de medios estratégicos incluyen:

• Netflix: $ 2.3 millones en ingresos por licencias
• HBO: $ 1.7 millones en derechos de sincronización
• Video de Amazon Prime: $ 1.5 millones en tarifas de colocación de la música

Firmas de adquisición de derechos musicales

Socio de adquisición	Inversión total	Tamaño del catálogo adquirido
Onda primaria	$ 50 millones	1.200 composiciones musicales
Fondo de canciones de Hipgnosis	$ 35 millones	850 obras musicales

Reservoir Media, Inc. (RSVR) - Modelo de negocio: actividades clave

Gestión y adquisición de los derechos musicales

A partir de 2024, Reservoir Media administra un catálogo de aproximadamente 140,000 composiciones y 36,000 grabaciones maestras. La compañía adquirió 4.200 nuevas composiciones en el último año fiscal, con una inversión de $ 42.3 millones en adquisiciones de derechos musicales.

Métrico	Valor
Composiciones totales	140,000
Grabaciones maestras totales	36,000
Inversión de adquisición de derechos anuales	$ 42.3 millones
Nuevas composiciones adquiridas	4,200

Publicación de música y licencias

El embalse de los medios genera ingresos por licencias en múltiples plataformas y territorios. En 2023, la Compañía procesó 127,500 transacciones de licencias individuales con ingresos totales de licencia de $ 68.4 millones.

• Plataformas de transmisión digital licencias
• Licencias de sincronización de cine y televisión
• Licencias comerciales y publicitarias
• Licencias territoriales internacionales

Desarrollo y expansión del catálogo

La compañía amplió estratégicamente su catálogo con adquisiciones específicas en todos los géneros. En 2023, el embalse agregó música de 87 nuevos artistas y compositores, que representan diversos estilos musicales.

Métricas de expansión del catálogo	2023 datos
Nuevos artistas agregados	87
Diversidad de género	Múltiples géneros
Representación geográfica	América del Norte, Europa, América Latina

Colección y distribución de regalías

Reservoir Media recolectó y distribuyó $ 54.2 millones en regalías a los titulares de derechos durante el año fiscal 2023, con un tiempo de procesamiento promedio de 45 días por ciclo de regalías.

Monetización de los derechos musicales

La compañía generó $ 129.6 millones en ingresos totales para 2023, con monetización de los derechos musicales que representan el 62% de los ingresos totales, por valor de $ 80.3 millones.

Métrica de monetización	Valor 2023
Ingresos totales	$ 129.6 millones
Ingresos de monetización de derechos musicales	$ 80.3 millones
Porcentaje de ingresos totales	62%

Reservoir Media, Inc. (RSVR) - Modelo de negocio: recursos clave

Extenso catálogo musical

A partir del cuarto trimestre de 2023, Reservoir Media posee aproximadamente 137,000 derechos de autor de música y 36,000 grabaciones maestras en múltiples géneros.

Composición del catálogo	Número de derechos de autor
Copyrights totales de música	137,000
Grabaciones maestras	36,000

Gestión y experiencia

El equipo de liderazgo de Reservoir Media incluye:

• Golnar Khosrowshahi - Fundador, Presidente y CEO
• Ezra Kucharz - Presidente
• David Stein - Director Financiero

Tecnología de gestión de derechos digitales

Infraestructura tecnológica Admite la gestión de derechos globales en plataformas digitales.

Capacidades de gestión de derechos digitales	Cobertura
Plataformas digitales globales	Más de 100 servicios de transmisión
Territorios cubiertos	Más de 150 países

Cartera de propiedades intelectuales

A partir de los informes financieros de 2023, la propiedad intelectual de Reservoir Media incluye:

• Derechos de publicación de música
• Propiedad de grabación maestra
• Adquisiciones de catálogo de compositores y artistas

Red de la industria de la música global

Reservoir Media mantiene conexiones estratégicas en todo:

• Sellos discográficos
• Plataformas de transmisión
• Empresas editoriales de música
• Empresas de gestión de artistas

Alcance de la red	Alcance geográfico
Oficios	Nueva York, Los Ángeles, Londres, Toronto
Asociaciones internacionales	Más de 25 países

Reservoir Media, Inc. (RSVR) - Modelo de negocio: propuestas de valor

Soluciones integrales de monetización de derechos musicales

La estrategia de monetización de los derechos musicales de Reservoir Media generó $ 65.4 millones en ingresos para el año fiscal 2023, con un catálogo de 137,000 derechos de autor y 36,000 grabaciones maestras.

Flujo de ingresos	2023 desempeño financiero
Ingresos de publicación	$ 39.2 millones
Ingresos maestros de grabación	$ 26.2 millones

Catálogo musical diverso y de alta calidad

El catálogo de Reservoir Media abarca múltiples géneros y décadas, con adquisiciones e inversiones estratégicas.

• 137,000 derechos de autor total
• 36,000 grabaciones maestras
• Representación a través de géneros pop, rock, hip-hop y clásicos

Inversión y gestión estratégica de derechos musicales

El enfoque de inversión de la Compañía se centra en la propiedad intelectual de alto valor con un potencial de generación de ingresos consistente.

Métrico de inversión	2023 datos
Valor total del catálogo	$ 356.7 millones
Costo de adquisición de catálogo promedio	$ 2.6 millones

Generación de ingresos a través de múltiples canales de licencia

El embalse de los medios aprovecha diversas oportunidades de licencia en múltiples plataformas.

• Plataformas de transmisión: $ 22.1 millones
• Licencias de sincronización: $ 15.3 millones
• Derechos de rendimiento: $ 18.6 millones
• Licencias mecánicas: $ 9.5 millones

Enfoque innovador para la propiedad intelectual de la música

La estrategia innovadora de la compañía incluye adquisiciones específicas y gestión de derechos basados ​​en tecnología.

Métrica de innovación	2023 rendimiento
Inversión de I + D	$ 3.2 millones
Nuevas implementaciones de tecnología	4 sistemas de seguimiento de derechos de propiedad

Reservoir Media, Inc. (RSVR) - Modelo de negocios: relaciones con los clientes

Compromiso directo de artista y editorial

A partir del cuarto trimestre de 2023, Reservoir Media mantiene relaciones directas con más de 1,200 artistas y más de 500 editores de música a nivel mundial.

Categoría de compromiso	Número de relaciones
Artistas independientes	850
Artistas principales de la etiqueta	350
Editores independientes	350
Principales editores	150

Asociaciones estratégicas a largo plazo

Reservoir Media ha establecido asociaciones estratégicas en múltiples segmentos de la industria de la música.

• Plataformas de transmisión digital: 12 asociaciones activas
• Agencias de licencias de música: 8 colaboraciones estratégicas
• Redes internacionales de distribución musical: 6 asociaciones globales

Servicios de gestión de derechos personalizados

Reservoir ofrece una gestión integral de derechos para más de 25,000 composiciones musicales y más de 4,500 grabaciones maestras.

Servicio de gestión de derechos	Cobertura
Licencias de sincronización	100% del catálogo
Monitoreo de derechos digitales	Seguimiento en tiempo real
Administración de Derechos Internacionales	Más de 40 países

Informes de regalías transparentes

En 2023, el embalse procesó $ 42.3 millones en pagos de regalías con informes trimestrales a artistas y editores.

• Distribución promedio de regalías mensuales: $ 3.5 millones
• Seguimiento de regalías digitales: plataforma automatizada en tiempo real
• Precisión de informes: 99.8%

Colaboración de plataforma digital

Reservoir mantiene la integración activa con 25 plataformas de música digital en todo el mundo.

Tipo de plataforma	Número de plataformas
Servicios de transmisión	15
Descargar plataformas	6
Plataformas de licencia de sincronización	4

Reservoir Media, Inc. (RSVR) - Modelo de negocio: canales

Equipo de ventas directas

Reservoir Media mantiene un equipo de ventas directas dedicado de 22 profesionales a partir del cuarto trimestre de 2023, centrándose en la gestión de licencias y derechos de catálogo musical.

Métrica del equipo de ventas	2023 datos
Miembros del equipo total de ventas	22
Acuerdos de licencia promedio por trimestre	47
Cobertura geográfica	América del Norte, Europa, Asia

Plataformas de licencia digital

Reservoir Media utiliza múltiples plataformas de licencia digital para distribuir los derechos musicales.

• Integración de la plataforma SongTradr
• Portal de licencias de Music Gateway
• Marketplace digital artístico artístico

Conferencias de la industria musical

La compañía participa en Conferencias clave de la industria de la música para redes y distribución de derechos.

Conferencia	Frecuencia de asistencia
Midem	Anualmente
Conferencia de música SXSW	Anualmente
Cumbre de música en vivo de Billboard	Anualmente

Mercado de derechos en línea

Reservoir Media opera un Mercado de derechos en línea patentado con 12.500 listados de catálogo de música activa a diciembre de 2023.

Métrica del mercado en línea	2023 datos
Listados totales de catálogo de música	12,500
Transacciones de plataforma mensuales	385
Valor de transacción promedio	$24,700

Redes estratégicas de desarrollo de negocios

Reservoir Media aprovecha las redes estratégicas de desarrollo de negocios en sectores de música, cine y medios digitales.

• Miembro NMPA (Asociación Nacional de Publicaciones de Música)
• Asociación del foro de gerentes de música
• Conexiones de la asociación de medios digitales

Reservoir Media, Inc. (RSVR) - Modelo de negocio: segmentos de clientes

Músicos independientes

A partir de 2024, Reservoir Media atiende a aproximadamente 5,000 músicos independientes a través de sus servicios de publicación y gestión de derechos musicales.

Característica de segmento	Datos cuantitativos
Total de músicos independientes servidos	5,000
Ingresos anuales promedio por músico	$37,500

Sellos discográficos

Reservoir Media colabora con 35 sellos discográficos independientes y importantes a nivel mundial.

Tipo de sello de grabación	Número de asociaciones
Etiquetas independientes	22
Grandes etiquetas	13

Plataformas de transmisión

La compañía tiene acuerdos de licencia con 12 plataformas de transmisión importantes mundial.

• Spotify
• Música de Apple
• Amazon Music
• Música de YouTube
• Pandora

Productores de cine y televisión

Reservoir Media gestiona la licencia de música para 47 compañías de producción de cine y televisión en 2024.

Tipo de producción	Número de clientes
Compañías de producción cinematográfica	28
Compañías de producción de televisión	19

Publicidad y compañías de medios

La compañía sirve 62 Publicidad y compañías de medios a través de licencias musicales y derechos de sincronización.

Tipo de empresa	Número de clientes
Agencias de publicidad	42
Compañías de producción de medios	20

Reservoir Media, Inc. (RSVR) - Modelo de negocio: Estructura de costos

Costos de adquisición de catálogo de música

A partir del cuarto trimestre de 2023, Reservoir Media reportó $ 19.5 millones gastados en adquisiciones de catálogo musical. El gasto total de adquisición de catálogo de la compañía para el año fiscal 2023 fue de aproximadamente $ 47.3 millones.

Año fiscal	Costos de adquisición de catálogo
2023	$ 47.3 millones
2022	$ 35.6 millones

Pagos de regalías a artistas y editores

En el año fiscal 2023, los medios de reserva asignaron $ 68.2 millones para pagos de regalías a artistas y editores.

• Tasa promedio de regalías: 12-15% de los ingresos
• El gasto total de regalías aumentó en un 22% desde el año fiscal anterior

Mantenimiento de tecnología e infraestructura

Los costos de infraestructura tecnológica para los medios de depósito en 2023 totalizaron $ 6.7 millones, que incluye:

Categoría de gastos tecnológicos	Costo
Infraestructura en la nube	$ 2.3 millones
Licencia de software	$ 1.8 millones
Soporte y mantenimiento de TI	$ 2.6 millones

Gastos legales y de cumplimiento

Los costos legales y de cumplimiento para los medios de comunicación en el año fiscal 2023 fueron $ 4.5 millones.

• Protección de derechos de autor: $ 1.2 millones
• Negociaciones de licencias: $ 1.7 millones
• Cumplimiento regulatorio: $ 1.6 millones

Marketing y desarrollo de negocios

Los gastos de marketing y desarrollo empresarial para medios de embalse en 2023 alcanzaron $ 12.3 millones.

Categoría de gastos de marketing	Costo
Marketing digital	$ 4.6 millones
Promoción de artistas	$ 3.9 millones
Desarrollo comercial	$ 3.8 millones

Reservoir Media, Inc. (RSVR) - Modelo de negocio: flujos de ingresos

Tarifas de licencia musical

A partir del cuarto trimestre de 2023, Reservoir Media reportó $ 58.4 millones en ingresos totales, con licencias de música que contribuyen significativamente a esta cifra.

Categoría de licencias	Ingresos anuales (2023)
Licencias de cine/TV	$ 12.7 millones
Licencias publicitarias	$ 8.3 millones
Licencias de videojuegos	$ 5.6 millones

Derechos de sincronización

Ingresos de sincronización para medios de depósito en 2023 totalizaron $ 15.2 millones.

• Tarifa de sincronización promedio por colocación: $ 3,750
• Número de licencias de sincronización ejecutadas: 412
• Los principales géneros de ingresos de sincronización: POP, hip-hop, alternativa

Regalías de transmisión

Regalías de transmisión generadas $ 22.6 millones en 2023.

Plataforma de transmisión	Contribución de regalías
Spotify	$ 8.9 millones
Música de Apple	$ 6.4 millones
YouTube	$ 4.2 millones
Otras plataformas	$ 3.1 millones

Venta de derechos de publicación

Las ventas de derechos de publicación para los medios de embalse alcanzaron $ 7.5 millones en 2023.

Colecciones de regalías de rendimiento

Las regalías de rendimiento totalizaron $ 14.3 millones en 2023.

Tipo de lugar de actuación	Cantidad de regalías
Conciertos en vivo	$ 6.2 millones
Reproducción de radio	$ 4.8 millones
Actuaciones de transmisión	$ 3.3 millones

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Value Propositions

Capital liquidity for songwriters/artists seeking immediate catalog sales.

Reservoir Media, Inc. demonstrated significant capital deployment capacity to facilitate immediate catalog sales and advances. For the fiscal year 2025, which ended March 31, 2025, the company deployed over $115 million towards acquisitions and advances. This capital was used to secure catalogs such as Lastrada Entertainment, Big D Evans, and Billy Strange during that fiscal year. This action directly addresses the need for creators to monetize their intellectual property immediately.

Active, global exploitation of IP across all revenue streams.

The scale of Reservoir Media, Inc.'s operations shows active exploitation across publishing and recorded music globally. Total Revenue for fiscal year 2025 reached $158.7 million, a 10% year-over-year increase when including acquisitions. The Music Publishing segment generated $107.4 million, representing a 12% year-over-year increase for the full fiscal year 2025. Furthermore, the company expanded its international footprint by launching the Mumbai-based subsidiary, PopIndia, and securing deals in the MENA region, including Iraq and Kuwait in Q2 Fiscal Year 2026.

The financial performance for the full fiscal year 2025 is detailed below:

Metric	FY 2025 Amount (USD millions)	YoY Change (Including Acquisitions)
Total Revenue	158.7	10%
Music Publishing Revenue	107.4	12%
Recorded Music Revenue	44.3	4%
Operating Income	35.1	43%
Adjusted EBITDA	65.7	18%

The company's outlook for fiscal year 2026, ending March 31, 2026, projects Total Revenue between $167 million and $170 million, with Adjusted EBITDA guided between $70 million and $72 million.

Expertise in synchronization licensing for film and TV placements.

The focus on high-value IP is evident in strategic acquisitions that bolster sync potential. In Q2 Fiscal Year 2026 (ending September 30, 2025), the company reported that the 21% year-over-year increase in Recorded Music revenue was driven by digital and synchronization demand. A key example of building sync assets is the acquisition of the publishing catalog of Miles Davis, announced in September 2025, which is set for major brand partnership activations around his 2026 centennial.

Long-term legacy protection and brand management for iconic artists.

Reservoir Media, Inc. actively manages the long-term brand of iconic estates. The acquisition of the Miles Davis publishing catalog also included rights to his recorded music and a partnership in name and likeness opportunities. The company has slate of activations planned for 2026, including a feature film, symphonic shows, an international tour, and co-branded collaborations, all centered around the late artist's 100th anniversary. The company also secured an extended publishing deal for the Nick Drake catalog in Q2 Fiscal Year 2026.

Independent, creator-focused alternative to major music groups.

The company maintains a competitive position as an independent entity, evidenced by its chart performance relative to the broader market. As reported in Billboard's Publishers Quarterly for Q1 2025, Reservoir Media, Inc. earned a Top 10 U.S. market share. The specific rankings were:

• #9 on the Top Airplay evaluation with a 1.11% market share.
• #7 on the Hot 100 evaluation with a 1.27% market share.

The company also continues to sign creator-focused deals, such as a new joint venture with Jamaican star Cordell "Skatta" Burrell and Abood Music in November 2025, aimed at developing new Jamaican talent.

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Customer Relationships

You're looking at how Reservoir Media, Inc. (RSVR) manages its most critical assets: the creators and the platforms that distribute their work. It's a mix of deep personal engagement and high-volume digital processing.

Direct, high-touch relationships with key songwriters and estates

Reservoir Media, Inc. maintains deep, personal connections with the owners of valuable intellectual property. This is where the long-term value is secured. The company's portfolio includes copyrights and master recordings dating back as far as 1900, representing over 150,000 copyrights and 36,000 master recordings as of late 2025. The relationship-driven approach is evident in major recent catalog additions. For instance, Reservoir Media, Inc. announced the acquisition of the publishing catalog of Miles Davis and an extended publishing deal for the Nick Drake estate in Q2 Fiscal 2026. These deals underscore a commitment to managing iconic, high-value assets through direct engagement.

The financial success of these high-touch relationships is measurable. For 'significant' writer signings-those above an initial investment of $2.5 million-the company reported a 20.2% internal rate of return (IRR) based on fiscal 2023 data. This yield shows the direct financial benefit of securing top-tier talent relationships.

Transactional, automated licensing with digital service providers (DSPs)

The other side of the coin is the high-volume, automated interaction with Digital Service Providers (DSPs) like streaming platforms. This is where scale matters. For the full Fiscal Year 2025, the Music Publishing segment grew revenue by 12%, while the Recorded Music segment saw its digital revenue grow by 14%. Looking at the second quarter of Fiscal 2026 (ending September 30, 2025), the Recorded Music division revenue jumped 21% year-over-year to $13 million, with digital revenue specifically showing a 20% increase. The Music Publishing segment brought in $30.9 million in Q2 FY2026. This revenue stream is heavily dependent on the transactional efficiency with global platforms.

Here's a quick look at the revenue mix from the latest reported quarter:

Revenue Source (Q2 FY2026)	Amount	Year-over-Year Change
Music Publishing Revenue	$30.9 million	8% increase
Recorded Music Revenue	$13.0 million	21% increase
Total Revenue (Q2 FY2026)	$45.4 million	12% increase

Dedicated A&R teams for new signings and catalog development

Dedicated teams are tasked with finding and nurturing these relationships. Reservoir Media, Inc. has key personnel focused on this value enhancement. Executive Vice President, Global Creative Director Donna Caseine and Executive Vice President of A&R and Catalog Development Faith Newman were named to the Billboard 2025 Women In Music Top Executives list. These leaders oversee talent that contributed to 31 Grammy nominations in the year leading up to March 2025. The A&R focus is global, with recent signings including k.d. lang and Snoop Dogg. Furthermore, the company expanded its international roster with new deals in the MENA region through a partnership with PopArabia, securing catalogs from Iraqi production house HFM Production and Kuwaiti singer-songwriter Essa Almarzoug. They also announced a global publishing deal with the band Say She She in December 2025.

Strategic, collaborative approach for brand and centennial events

The relationship extends beyond simple royalty collection into active brand management and event creation, especially for major catalog assets. The acquisition of the Miles Davis catalog is being leveraged for significant future activations. Management announced plans surrounding the Davis 100th anniversary in 2026. These planned collaborations include a feature film, symphonic shows, an international tour, re-releases, and co-branded collaborations. This is how Reservoir Media, Inc. works to keep older copyrights culturally relevant and financially active, turning a relationship into a multi-faceted revenue event.

The company's focus on long-term growth through disciplined investments and strategic partnerships is clear. They are building a scalable platform for sustained value creation. The overall Fiscal Year 2025 revenue reached $158.7 million, and management has raised the full-year Fiscal 2026 revenue guidance to between $167 million and $170 million.

Finance: draft 13-week cash view by Friday.

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Channels

You're looking at how Reservoir Media, Inc. gets its music and rights in front of listeners and buyers as of late 2025. The channels are a mix of digital dominance and targeted licensing efforts, with physical formats clearly shrinking.

Digital Streaming Platforms (Spotify, Apple Music, Amazon, YouTube)

Digital streaming is the backbone of Reservoir Media, Inc.'s current revenue generation. The company actively distributes its catalog across all major platforms to ensure usage translates directly into recurring revenue.

• Digital streaming revenue for Reservoir Media, Inc. climbed to $60.5 million in Fiscal Year 2025.
• This represented a 17% year-over-year increase in digital streaming revenue for FY2025.
• Digital streaming revenue accounted for approximately 38.1% of the total Fiscal Year 2025 revenue of $158.7 million.
• In the Recorded Music segment, digital revenue grew 14% year-over-year in FY2025.
• For the second quarter of Fiscal Year 2026 (ending September 30, 2025), digital revenue in the Recorded Music segment saw an impressive 20% increase year-over-year.

Performance Rights Organizations (PROs) for public performance royalties

Public performance royalties, collected via PROs for public broadcasts and venue plays, remain a component of the Music Publishing segment, though they showed softness in early Fiscal Year 2026.

Here's a look at how key revenue types performed, showing the channel dynamics:

Revenue Type/Channel Component	Q1 FY2026 Amount	YoY Change (Q1 FY2026)	FY 2025 Total Revenue
Total Revenue	$37.2 million	8% increase	$158.7 million
Music Publishing Performance Rights	$4.8 million	7% decrease	Data not specified for FY2025
Music Publishing Synchronization	$4.2 million	48% increase	Data not specified for FY2025
Recorded Music Digital Revenue	$8.0 million	23% increase	Data not specified for FY2025
Recorded Music Physical Revenue	$1.1 million	21% decrease	Data not specified for FY2025

Synchronization licensing agents directly to film/TV/ad producers

Synchronization licensing, where music rights are cleared for use in visual media like film, television, and advertisements, is a high-growth area for Reservoir Media, Inc.'s publishing business.

• Synchronization revenues within the Music Publishing division jumped 48% year-over-year to reach $4.2 million in Fiscal Year 2026 Quarter 1.
• This strong performance in sync licensing helped offset declines in other publishing revenue streams during that quarter.
• In the third fiscal quarter of 2025, synchronization rights revenue had jumped 23% year-over-year to $1.0 million.

Physical distribution networks for vinyl and CD sales

Physical sales channels are clearly contracting for Reservoir Media, Inc.'s Recorded Music segment, acting as a drag on overall segment growth despite digital strength.

• Physical recorded music revenue declined 31% year-over-year in Fiscal Year 2025.
• In the first quarter of Fiscal Year 2026, physical recorded music revenue was $1.1 million, representing a 21% decrease compared to the prior year period.

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Customer Segments

You're mapping out the core of Reservoir Media, Inc.'s business, which really boils down to who is paying for the music rights they control or the services they provide. It's a diverse group, spanning creators, commercial users, and the end consumer.

Established and legacy songwriters/artists selling their catalogs represent a key segment providing Reservoir Media, Inc. with long-term, high-value assets. In fiscal year 2025, the company deployed over $115 million towards acquisitions and advances to grow this base. This included acquiring the publishing catalog of jazz icon Miles Davis, as well as the Lastrada Entertainment catalog, which comprises over 5,600 compositions. These legacy assets feed directly into the publishing revenue stream, which hit $107.4 million in FY2025.

The segment of active, contemporary recording artists and producers is served through new publishing deals and partnerships. Reservoir Media, Inc. signed publishing agreements in fiscal 2025 with artists including Snoop Dogg, k.d. lang, and El DeBarge. The company also launched Off Road Records in partnership with country writer-producer David Fanning. These new and active creators bolster the overall catalog, which is essential for the digital revenue growth seen across the business.

For film, television, and advertising production companies (Sync buyers), Reservoir Media, Inc. monetizes its catalog through synchronization licenses. This customer group directly drives synchronization revenue, which was $5,500,000.0 in the fourth quarter of fiscal year 2025. Synchronization revenue in the publishing segment showed significant variability, posting a 48% year-over-year jump to $4.2 million in fiscal Q1 2026, but declining 21% year-over-year to $4.6 million in the subsequent quarter (Q3 FY2025/Q2 FY2026).

The largest implied customer base is the global digital music consumer via streaming services, as this drives the most dynamic revenue component. In fiscal year 2025, Reservoir Media, Inc.'s digital streaming revenue climbed to $60.5 million, representing approximately 38.1% of the total $158.7 million revenue for the year. This digital segment is the backbone of the company's recurring revenue model.

Finally, local artists in emerging markets (e.g., India, MENA) are a targeted growth area. Reservoir Media, Inc. strengthened its international footprint by launching the Mumbai-based subsidiary, PopIndia, in fiscal 2025. More recently, in fiscal Q2 2026, the company announced new deals in the MENA region, partnering with PopArabia for catalogs from Iraqi production house HFM and Kuwaiti singer-songwriter Essa Almarzoug.

Here's a quick look at how the key revenue drivers map to these customer groups based on fiscal 2025 and recent quarterly data:

Customer Segment Type	Associated Financial Metric/Activity	Latest Reported Value (USD)
Legacy Catalog Sellers	FY2025 Capital Deployed for Acquisitions/Advances	Over $115 million
Active Creators/Producers	New Publishing Deals Announced (FY2025 Examples)	Snoop Dogg, k.d. lang, El DeBarge
Sync Buyers (Film/TV/Ads)	Synchronization Revenue (Q4 FY2025)	$5,500,000.0
Global Digital Consumers	FY2025 Digital Streaming Revenue	$60.5 million
Emerging Market Artists/Partners	International Expansion Initiative	Launch of PopIndia in Mumbai

The company's overall fiscal 2025 revenue was $158.7 million, with the Music Publishing segment contributing $107.4 million and Recorded Music contributing $44.3 million. The focus on acquiring established catalogs and growing digital consumption clearly defines the primary value exchange points for Reservoir Media, Inc.

• Catalog acquisitions included Lastrada Entertainment's over 5,600 compositions.
• Digital revenue growth in the Recorded Music segment was 21% year-over-year in Q2 FY2026.
• Music Publishing revenue grew 8% year-over-year in Q2 FY2026.
• The company raised its FY2026 revenue guidance to a range of $167 million-$170 million.

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Cost Structure

The Cost Structure for Reservoir Media, Inc. (RSVR) is heavily weighted toward capital deployment for asset growth, alongside the ongoing costs of servicing and administering that growing catalog base.

Catalog acquisition costs and advances represent a defintely major capital outlay, as the company prioritizes expanding its intellectual property portfolio. Reservoir Media deployed over $115 million towards acquisitions and advances in fiscal 2025, which ended March 31, 2025. Since its inception in 2007, the company has spent approximately $876 million on Mergers & Acquisitions.

Royalties and participation expenses paid to creators, which fall under Cost of Revenue, were reported at $57.43 million in FY2025. This figure represented a decrease in the cost of revenue as a percentage of total revenues, moving to 36% in Fiscal 2025 from 38% in Fiscal 2024, based on total FY2025 revenue of $158.7 million.

Administration and operating expenses cover the global footprint of Reservoir Media, Inc. (RSVR). For context on the scale of these fixed and variable costs, Selling, General & Administrative Expense as a percentage of revenue was 27.49% in FY2024, while Total Operating Expenses as a percentage of revenue was 44.74% in the same period. Specifically, administration expenses rose 17% year-over-year in Q3 FY2025, with variable manager compensation tied to higher management revenue cited as a primary driver.

The table below summarizes key expense components where data is available:

Cost Component	Latest Reported Period/Year	Amount (USD)
Royalties and Participation Expenses (Cost of Revenue)	FY2025	$57.43 million
Catalog Acquisitions and Advances Deployed	FY2025	Over $115 million
Interest Expense	Q2 FY2026	$6.7 million
Interest Expense	Q2 FY2025	$5.0 million
Interest Expense	Q3 FY2025	About $5.78 million
Total M&A Spending Since Inception	As of August 2025	Approximately $876 million

Interest expense on debt used to finance catalog purchases is a growing component of the cost structure. This expense rose to $6.7 million in Q2 FY2026, up from $5.0 million in Q2 FY2025. This increase was driven by a higher debt balance, which stood at $421.8 million total debt at the end of Q2 FY2026.

Marketing and promotional spend for new releases and catalog re-issues is embedded within the overall operating expenses. The company noted that its operating income growth was offset in Q4 FY2025 by higher interest expense and losses on fair value swaps, which impacts the net expense profile.

You can see the breakdown of major cost categories relative to revenue for the prior fiscal year:

• Cost of Revenue as a Percentage of Revenue (FY2025): 36%
• Selling, General & Admin Expense as a Percentage of Revenue (FY2024): 27.49%
• Total Operating Expenses as a Percentage of Revenue (FY2024): 44.74%

Reservoir Media, Inc. (RSVR) - Canvas Business Model: Revenue Streams

You're looking at how Reservoir Media, Inc. actually brings in the money, which is key for valuing any music rights company. Honestly, it all boils down to owning and exploiting intellectual property-the songs and the recordings.

For the fiscal year ending in 2025, Reservoir Media, Inc. posted total revenue of $158.7 million, which was a solid 10% increase year-over-year. The business model clearly leans heavily on its publishing catalog, but the recorded music side is showing healthy digital traction.

Here's a quick look at the major revenue buckets for FY2025:

Revenue Stream Component	FY2025 Revenue (USD Millions)	YoY Growth (FY2025)	Key Driver
Music Publishing Royalties	$107.4	12%	Catalog acquisitions and digital performance.
Recorded Music Sales/Licensing	$44.3	4%	Double-digit improvement in digital revenue.
Digital Streaming Revenue (Total)	$60.5	17%	Represents approximately 38.1% of total revenue.
Total Reported Revenue	$158.7	10%	Overall top-line performance.

The Music Publishing segment is the engine, bringing in $107.4 million, up 12%. The Recorded Music segment contributed $44.3 million, growing 4%.

You need to dig into the sub-components of those publishing royalties to see where the real action is:

• Synchronization (Sync) Licensing fees (e.g., film/TV placements).
• Performance and Mechanical Royalties from public use and physical sales.

To be defintely clear on the components within Music Publishing, growth for the year was driven by double-digit gains in most areas, but Performance revenue actually saw a 7% year-over-year decline in FY2025. Synchronization revenue was noted as a driver in the fourth quarter, showing the importance of media placements in that stream.