Reservoir Media recently released its 10-K report. Reservoir Media, Inc. is a music publishing and recorded music company founded in 2007 and headquartered in New York, New York. It operates through two segments: Music Publishing, which acquires interests in music catalogs and signs songwriters, and Recorded Music, which acquires sound recording catalogs and handles artist development, marketing, distribution, sale and licensing.
In Item 7, the company said it is a holding company that conducts substantially all of its business through Reservoir Media Management, Inc. and also operates a management business and a rights management entity in the Middle East. Its fiscal year ends on March 31. The filing also noted that on March 4, 2026, the board formed a Special Committee to evaluate proposals, and on May 1, 2026, the committee hired Morgan Stanley as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel.
Reservoir said total revenue rose 11% to $175.7 million in fiscal 2026 from $158.7 million in fiscal 2025. Operating income increased 9% to $38.2 million, while net income attributable to Reservoir Media, Inc. rose 7% to $8.3 million.
Music Publishing revenue increased 9% to $116.8 million, led by digital revenue of $64.7 million, performance revenue of $24.0 million, synchronization revenue of $19.1 million, mechanical revenue of $4.2 million and other revenue of $4.8 million. The company said the increase was driven mainly by additional catalog acquisitions, continued growth at streaming services, higher performance income from hit songs, acquired stage rights and timing of licenses.
Recorded Music revenue climbed 16% to $51.5 million. Digital revenue in the segment rose to $36.4 million from $30.7 million, synchronization revenue increased to $4.3 million from $3.1 million, and physical revenue was essentially flat at $6.1 million. Reservoir said the digital gain reflected additional catalog acquisitions and streaming growth, partly offset by the absence of royalty recoveries recognized in fiscal 2025.
By geography, U.S. revenue increased 5% to $98.7 million, while international revenue rose 18% to $77.0 million. U.S. revenue accounted for 56% of total revenue in fiscal 2026, compared with 59% in fiscal 2025.
Costs also moved higher. Cost of revenue rose 8% to $62.0 million, amortization and depreciation increased 17% to $30.8 million, and administration expenses climbed 12% to $44.7 million. Interest expense increased 21% to $26.5 million, and income tax expense rose 55% to $3.3 million. As a result of these announcements, the company's shares have moved 1.08% on the market, and are now trading at a price of $10.26. If you want to know more, read the company's complete 10-K report here.
