Musicbusinessworldwide.com
Reservoir Media spent fiscal 2026 doing what music companies increasingly believe wins the long game: buying aggressively, expanding internationally and betting bigger on rights ownership.
The company closed out its latest fiscal year with $175.7 million in revenue, up 11% year-over-year when acquisitions are factored in, as a wave of catalog deals, creator partnerships and international expansion efforts pushed growth across both publishing and recorded music divisions.
Behind the headline numbers sits an even bigger figure of approximately $120 million deployed across acquisitions and creator advances during the year. That capital went toward catalog purchases, publishing agreements and artist partnerships that continue to reshape Reservoir’s footprint in an increasingly competitive rights market.
Founder and CEO Golnar Khosrowshahi framed the year as one defined by expansion, pointing to deals involving legacy catalogs and contemporary creators alike. Reservoir strengthened ties with film composer Hans Zimmer, expanded agreements with Joni Mitchell, acquired publishing rights connected to Miles Davis and broadened its label activity through a partnership with independent imprint Fool’s Gold Records.
The company’s strategy increasingly reflects a larger industry shift to diversification. Reservoir spent much of the year expanding beyond traditional Western markets, launching Mumbai-based subsidiary PopIndia while continuing to scale operations across emerging territories. Acquisitions like Musicraft Entertainment’s catalog and PopArabia’s purchase of Viral Wave suggest geographic growth remains central to the company’s next phase.
Publishing remains Reservoir’s financial force. The division generated $116.8 million during fiscal 2026, fueled largely by streaming growth and stronger synchronization performance. Digital publishing revenue continued to outperform other categories, reinforcing how streaming and platform licensing remain core growth drivers for catalog businesses.
Recorded music also posted strong gains, with annual revenue climbing 16% to $51.5 million as digital consumption and sync opportunities offset weaker physical sales.
The earnings arrive during a particularly consequential moment for the company. Reservoir remains in the middle of evaluating multiple takeover proposals, with competing bids from activist investor Irenic Capital and existing shareholders placing additional attention on the company’s long-term valuation.
For fiscal 2027, Reservoir expects revenue to land between $186 million and $191 million.
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