Reservoir Media’s latest financial results offer a window into the company’s revenues from its publishing and recorded music catalogues… and on its determination to keep spending to grow them.
The company posted $35.1m of revenues for its fiscal fourth quarter (ending on 31 March) which was up by 46% year-on-year, or 20% if acquisitions are stripped out. Reservoir recorded a net profit that quarter of $8.9m.
This being its fiscal fourth quarter, there were also annual figures: $107.8m of revenue in its last financial year, up 34% including acquisitions, or 15% organically. Reservoir also reported that it “deployed over $224 million in capital across 110 deals” in its first year as a public company.
That’s not the end of its spending though. “Our pipeline of potential deals remains robust, and we expect to deploy over $100 million in new capital in fiscal 2023 that will help us broaden and further diversify our portfolio,” said CEO Golnar Khosrowshahi.
“We expect to continue to deliver consistent and predictable results in fiscal 2023, supported by a resilient and cash-generative business model.”
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