Reservoir Media, Inc. (RSVR): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des droits musicaux et de la propriété intellectuelle, Reservoir Media, Inc. (RSVR) apparaît comme une puissance de l'innovation stratégique, transformant la façon dont les catalogues musicaux sont gérés, monétisés et exploités dans les paysages mondiaux de divertissement. En comblant magistralement l'écart entre les artistes, les éditeurs et les plateformes numériques, cette entreprise avant-gardiste a conçu un modèle commercial sophistiqué qui transforme la créativité musicale en une machine de génération de revenus multi-flux robuste. Plongez dans la toile du modèle commercial complexe qui révèle comment les médias réservoirs transforment l'art musical en un écosystème commercial stratégique.

Reservoir Media, Inc. (RSVR) - Modèle commercial: partenariats clés

Éditeurs de musique et étiquettes de disques

Reservoir Media maintient des partenariats stratégiques avec les éditeurs de musique et les maisons de disques suivants:

Partenaire	Détails du partenariat	Taille du catalogue
Sony Music Publishing	Administration du catalogue mondial	Plus de 250 000 chansons
Groupe de publication de musique universelle	Collaboration de gestion des droits	Environ 200 000 compositions

Artistes et auteurs-compositeurs indépendants

Reservoir Media collabore avec des créateurs indépendants grâce à des partenariats ciblés:

• Liste active de plus de 500 artistes indépendants
• Investissement annuel dans les acquisitions de nouveaux artistes: 15 millions de dollars
• Les progrès des redevances allant de 50 000 $ à 500 000 $

Plateformes de streaming numérique

Plate-forme	Part des revenus	Utilisateurs actifs mensuels
Spotify	85% des revenus de streaming	456 millions d'utilisateurs
Pomme de musique	80% des revenus de streaming	80 millions d'abonnés

Divertissement et sociétés de médias

Les principaux partenariats médiatiques stratégiques comprennent:

• Netflix: 2,3 millions de dollars en revenus de licence
• HBO: 1,7 million de dollars en droits de synchronisation
• Amazon Prime Video: 1,5 million de dollars en frais de placement musical

Sociétés d'acquisition de droits musicaux

Partenaire d'acquisition	Investissement total	Taille du catalogue acquise
Onde primaire	50 millions de dollars	1 200 compositions musicales
Fonds de chansons hipgnosis	35 millions de dollars	850 œuvres musicales

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: Activités clés

Gestion et acquisition des droits musicaux

En 2024, Reservoir Media gère un catalogue d'environ 140 000 compositions et 36 000 enregistrements maîtres. La société a acquis 4 200 nouvelles compositions au cours du dernier exercice, avec un investissement de 42,3 millions de dollars en acquisitions de droits musicaux.

Métrique	Valeur
Compositions totales	140,000
Enregistrements maîtres totaux	36,000
Investissement annuel d'acquisition des droits	42,3 millions de dollars
Nouvelles compositions acquises	4,200

Édition et licence de musique

Reservoir Media génère des revenus de licence sur plusieurs plateformes et territoires. En 2023, la société a traité 127 500 transactions de licence individuelles avec un chiffre d'affaires total de 68,4 millions de dollars.

• Plateformes de streaming numérique Licence
• Licence de synchronisation du film et de la télévision
• Licence commerciale et publicitaire
• Licence territoriale internationale

Développement et expansion du catalogue

La société a stratégiquement élargi son catalogue avec des acquisitions ciblées entre les genres. En 2023, Reservoir a ajouté de la musique de 87 nouveaux artistes et auteurs-compositeurs, représentant divers styles musicaux.

Métriques d'expansion du catalogue	2023 données
De nouveaux artistes ajoutés	87
Diversité de genre	Plusieurs genres
Représentation géographique	Amérique du Nord, Europe, Amérique latine

Collection et distribution de redevances

Les médias de réservoir ont collecté et distribué 54,2 millions de dollars de redevances aux titulaires de droits au cours de l'exercice 2023, avec un temps de traitement moyen de 45 jours par cycle de redevance.

Monétisation des droits musicaux

La société a généré 129,6 millions de dollars de revenus totaux pour 2023, avec une monétisation des droits musicaux représentant 62% des revenus totaux, soit 80,3 millions de dollars.

Métrique de monétisation	Valeur 2023
Revenus totaux	129,6 millions de dollars
Revenus de monétisation des droits musicaux	80,3 millions de dollars
Pourcentage du total des revenus	62%

Reservoir Media, Inc. (RSVR) - Modèle commercial: Ressources clés

Catalogue musical étendu

Au quatrième trimestre 2023, Reservoir Media détient environ 137 000 droits d'auteur de musique et 36 000 enregistrements maîtres sur plusieurs genres.

Composition de catalogue	Nombre de droits d'auteur
Copyright de musique totale	137,000
Master Recordings	36,000

Gestion et expertise

L'équipe de direction de Reservoir Media comprend:

• Golnar Khosrowshahi - fondateur, président et PDG
• Ezra Kucharz - Président
• David Stein - directeur financier

Technologie de gestion des droits numériques

Infrastructure technologique Soutient la gestion mondiale des droits sur les plateformes numériques.

Capacités de gestion des droits numériques	Couverture
Plates-formes numériques mondiales	100+ services de streaming
Territoires couverts	150+ pays

Portefeuille de propriété intellectuelle

À partir de 2023 rapports financiers, la propriété intellectuelle de Reservoir Media comprend:

• Droits de publication de musique
• Maîtrise de la propriété d'enregistrement
• Acquisitions de catalogue de compositeurs et d'artistes

Réseau mondial de l'industrie musicale

Les médias de réservoir maintiennent des connexions stratégiques à travers:

• Étiquettes de disques
• Plates-formes de streaming
• Sociétés d'édition de musique
• Sociétés de gestion des artistes

Réalisation du réseau	Portée géographique
Bureaux	New York, Los Angeles, Londres, Toronto
Partenariats internationaux	25+ pays

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: propositions de valeur

Solutions complètes de monétisation des droits musicaux

La stratégie de monétisation des droits musicaux de Reservoir Media a généré 65,4 millions de dollars de revenus pour l'exercice 2023, avec un catalogue de 137 000 droits d'auteur et 36 000 enregistrements maîtres.

Flux de revenus	2023 Performance financière
Revenus de publication	39,2 millions de dollars
Maître des revenus d'enregistrement	26,2 millions de dollars

Catalogue musical diversifié et de haute qualité

Le catalogue de Reservoir Media couvre plusieurs genres et décennies, avec des acquisitions stratégiques et des investissements.

• 137 000 droits de droit d'auteur
• 36 000 enregistrements principaux
• Représentation à travers la pop, le rock, le hip-hop et les genres classiques

Investissement et gestion des droits musicaux stratégiques

L'approche d'investissement de l'entreprise se concentre sur la propriété intellectuelle de grande valeur avec un potentiel de génération de revenus cohérent.

Métrique d'investissement	2023 données
Valeur totale du catalogue	356,7 millions de dollars
Coût moyen d'acquisition du catalogue	2,6 millions de dollars

Génération de revenus grâce à plusieurs canaux de licence

Les médias réservoirs tirent parti de diverses opportunités de licence sur plusieurs plateformes.

• Plateformes de streaming: 22,1 millions de dollars
• Licence de synchronisation: 15,3 millions de dollars
• Droits de performance: 18,6 millions de dollars
• Licence mécanique: 9,5 millions de dollars

Approche innovante de la propriété intellectuelle musicale

La stratégie innovante de l'entreprise comprend des acquisitions ciblées et une gestion des droits axée sur la technologie.

Métrique d'innovation	Performance de 2023
Investissement en R&D	3,2 millions de dollars
Implémentations de nouvelles technologies	4 systèmes de suivi des droits propriétaires

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: relations clients

Engagement artiste et éditeur direct

Depuis le quatrième trimestre 2023, Reservoir Media entretient des relations directes avec plus de 1 200 artistes et plus de 500 éditeurs de musique dans le monde.

Catégorie d'engagement	Nombre de relations
Artistes indépendants	850
Artistes d'étiquettes majeures	350
Éditeurs indépendants	350
Éditeurs majeurs	150

Partenariats stratégiques à long terme

Reservoir Media a établi des partenariats stratégiques sur plusieurs segments de l'industrie musicale.

• Plateformes de streaming numérique: 12 partenariats actifs
• Agences de licence de musique: 8 collaborations stratégiques
• Réseaux de distribution de musique internationale: 6 partenariats mondiaux

Services de gestion des droits personnalisés

Reservoir fournit une gestion complète des droits pour plus de 25 000 compositions musicales et plus de 4 500 enregistrements principaux.

Service de gestion des droits	Couverture
Licence de synchronisation	100% du catalogue
Surveillance des droits numériques	Suivi en temps réel
Administration des droits internationaux	Plus de 40 pays

Reportage transparent des redevances

En 2023, Reservoir a traité 42,3 millions de dollars de paiements de redevances avec des rapports trimestriels aux artistes et aux éditeurs.

• Distribution mensuelle moyenne des redevances: 3,5 millions de dollars
• Suivi des redevances numériques: plate-forme automatisée en temps réel
• Précision des rapports: 99,8%

Collaboration de plate-forme numérique

Reservoir maintient une intégration active avec 25 plateformes de musique numérique dans le monde.

Type de plate-forme	Nombre de plateformes
Services de streaming	15
Télécharger les plateformes	6
Synchroniser les plateformes de licence	4

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: canaux

Équipe de vente directe

Les médias de réservoir maintiennent un Équipe de vente directe dédiée de 22 professionnels au quatrième trimestre 2023, en se concentrant sur les licences de catalogue musical et la gestion des droits.

Métrique de l'équipe de vente	2023 données
COMBILS ÉQUIPEMENTS VENTS TOTAL	22
Offres moyennes de licence par trimestre	47
Couverture géographique	Amérique du Nord, Europe, Asie

Plateformes de licence numérique

Reservoir Media utilise plusieurs plateformes de licence numérique pour distribuer les droits musicaux.

• Intégration de la plate-forme de chantrad
• Portail de licence de passerelle musicale
• ArtList Digital Marketplace

Conférences de l'industrie musicale

L'entreprise participe à Conférences clés de l'industrie musicale pour le réseautage et la distribution des droits.

Conférence	Fréquence de fréquentation
Médiéd	Annuellement
Conférence de musique SXSW	Annuellement
Billboard Live Music Summit	Annuellement

Marché des droits en ligne

Les médias de réservoir exploitent un Marché propriétaire des droits en ligne avec 12 500 listes de catalogues de musique active en décembre 2023.

Métrique du marché en ligne	2023 données
Listes du catalogue musical total	12,500
Transactions de plate-forme mensuelles	385
Valeur de transaction moyenne	$24,700

Réseaux de développement commercial stratégique

Les médias réservoirs tirent parti des réseaux de développement commercial stratégiques dans les secteurs de la musique, du cinéma et des médias numériques.

• Membre de la NMPA (National Music Publishers 'Association)
• Partenariat Forum des gestionnaires de musique
• Connexions d'association des médias numériques

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: segments de clientèle

Musiciens indépendants

En 2024, Reservoir Media dessert environ 5 000 musiciens indépendants par le biais de ses services de publication musicale et de gestion des droits.

Caractéristique du segment	Données quantitatives
Les musiciens indépendants totaux ont servi	5,000
Revenu annuel moyen par musicien	$37,500

Étiquettes de disques

Reservoir Media collabore avec 35 étiquettes de disques indépendantes et majeures à l'échelle mondiale.

Type d'étiquette de disques	Nombre de partenariats
Étiquettes indépendantes	22
Étiquettes majeures	13

Plates-formes de streaming

La société a des accords de licence avec 12 plates-formes de streaming majeures mondial.

• Spotify
• Pomme de musique
• Musique amazon
• Musique youtube
• Pandore

Producteurs de films et de télévision

Reservoir Media gère les licences musicales pour 47 sociétés de production de films et de télévision en 2024.

Type de production	Nombre de clients
Sociétés de production de films	28
Sociétés de production télévisée	19

Publicité et sociétés de médias

L'entreprise sert 62 sociétés de publicité et de médias Grâce aux droits de licence et de synchronisation musicale.

Type d'entreprise	Nombre de clients
Agences de publicité	42
Sociétés de production de médias	20

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: Structure des coûts

Coûts d'acquisition du catalogue de musique

Au quatrième trimestre 2023, Reservoir Media a déclaré 19,5 millions de dollars dépensés pour les acquisitions de catalogues musicaux. Les dépenses d'acquisition totale de catalogue de la société pour l'exercice 2023 étaient d'environ 47,3 millions de dollars.

Exercice fiscal	Coûts d'acquisition de catalogue
2023	47,3 millions de dollars
2022	35,6 millions de dollars

Paiements de redevances aux artistes et aux éditeurs

Au cours de l'exercice 2023, les médias des réservoirs sont alloués 68,2 millions de dollars Pour les paiements de redevances aux artistes et aux éditeurs.

• Taux de redevance moyen: 12-15% des revenus
• Les dépenses totales des redevances ont augmenté de 22% par rapport à l'exercice précédent

Maintenance de technologie et d'infrastructure

Les coûts d'infrastructure technologique pour les médias réservoirs en 2023 ont totalisé 6,7 millions de dollars, qui comprend:

Catégorie de dépenses technologiques	Coût
Infrastructure cloud	2,3 millions de dollars
Licence de logiciel	1,8 million de dollars
Soutien et maintenance informatiques	2,6 millions de dollars

Dépenses juridiques et de conformité

Les frais juridiques et de conformité pour les médias réservoirs au cours de l'exercice 2023 étaient 4,5 millions de dollars.

• Protection des droits d'auteur: 1,2 million de dollars
• Négociations de licence: 1,7 million de dollars
• Conformité réglementaire: 1,6 million de dollars

Marketing et développement commercial

Les dépenses de marketing et de développement commercial pour les médias réservoirs en 2023 ont atteint 12,3 millions de dollars.

Catégorie de dépenses de marketing	Coût
Marketing numérique	4,6 millions de dollars
Promotion d'artiste	3,9 millions de dollars
Développement commercial	3,8 millions de dollars

Reservoir Media, Inc. (RSVR) - Modèle d'entreprise: Strots de revenus

Frais de licence de musique

Au quatrième trimestre 2023, Reservoir Media a déclaré 58,4 millions de dollars de revenus totaux, les licences musicales contribuant de manière significative à ce chiffre.

Catégorie de licence	Revenus annuels (2023)
Licence de film / télévision	12,7 millions de dollars
Licence de publicité	8,3 millions de dollars
Licence de jeu vidéo	5,6 millions de dollars

Droits de synchronisation

Les revenus de synchronisation pour les médias réservoirs en 2023 ont totalisé 15,2 millions de dollars.

• Frais de synchronisation moyens par placement: 3 750 $
• Nombre de licences de synchronisation exécutées: 412
• Top Sync Revenue Genres: pop, hip-hop, alternative

Redevances en streaming

Les redevances de streaming générées 22,6 millions de dollars en 2023.

Plate-forme de streaming	Contribution des redevances
Spotify	8,9 millions de dollars
Pomme de musique	6,4 millions de dollars
Youtube	4,2 millions de dollars
Autres plateformes	3,1 millions de dollars

Ventes de droits de publication

Ventes de droits de publication pour les médias réservoirs atteints 7,5 millions de dollars en 2023.

Collections de redevances de performance

Les redevances de performance ont totalisé 14,3 millions de dollars en 2023.

Type de lieu de performance	Montant des redevances
Concerts en direct	6,2 millions de dollars
Plays radio	4,8 millions de dollars
Performances en streaming	3,3 millions de dollars

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.