Freshly public as a company, Reservoir Media has published its financial results for Q2 2021 – its fiscal Q1 – as well as figures for its last financial year, which ended on 31 March.
In that year, Reservoir’s revenues grew by 28% to $81.8m, while in Q2 this year it saw 23% year-on-year growth to $16.7m. Within that, the company saw its publishing revenues grow by 8% to $12.3m, and its recorded music revenues increase by 94% to $4.2m.
The latter was buoyed by Reservoir’s Chrysalis and Tommy Boy acquisitions. The company posted an operating profit of $282k for the quarter. There is one direct comparison to draw on here: Hipgnosis Songs Fund generated revenue of $138.4m in its last fiscal year, which like Reservoir’s ended on 31 March.
But the message being sent out by both of these companies is one of more growth to come as they continue buying catalogues and working the songs.