**Reservoir Media Announces Financial Highlights for Fiscal Year 2024**
Reservoir Media, Inc. (NASDAQ: RSVR), a leading independent music company, unveiled its financial achievements for the fourth quarter and the entire fiscal year of 2024, ending on March 31, 2024. The company reported significant growth, with double-digit annual revenue increases across both its segments, outperforming its full-year forecast. Reservoir also highlighted its strategic acquisitions of publishing and recorded rights from both legendary and emerging artists across various genres. Looking ahead, the company’s financial outlook for fiscal 2025 anticipates mid-single-digit growth in revenue and adjusted EBITDA.
**Fiscal 2024 Performance Highlights:**
– Total revenue soared to $144.9 million, marking a 14% organic growth and 18% including acquisitions.
– Music Publishing Revenue and Recorded Music Revenue increased by 15% and 22% year-over-year, respectively.
– Operating Income and OIBDA both saw significant increases, reflecting operational efficiency and strategic growth initiatives.
**Fourth Quarter Achievements and Management Insights:**
– The fourth quarter continued the year’s positive trend with an 8% organic revenue increase.
– Notable publishing deals were secured with iconic bands and artists, enhancing Reservoir’s portfolio.
– CEO Golnar Khosrowshahi emphasized the company’s diversified asset base and strategic investments as key drivers of success.
**Looking Forward: Fiscal 2025 Outlook:**
– Reservoir sets a positive outlook for fiscal 2025, with revenue expected to range from $148M to $152M and adjusted EBITDA projected to hit between $58M and $61M.
– Strategic investments in AI and emerging markets are planned to further growth and efficiency.
**About Reservoir Media, Inc.:**
Founded in 2007 and headquartered in New York City, Reservoir is a dynamic and innovative independent music company. With a diverse portfolio and strategic approach to asset management and development, Reservoir continues to make significant impacts in the music industry.
**Forward-Looking Statements:**
This press release contains forward-looking statements regarding Reservoir’s future performance. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially.
**Supplemental Disclosures Regarding Non-GAAP Financial Measures:**
Reservoir provides non-GAAP financial measures such as OIBDA, Adjusted EBITDA, and Net Debt to give additional insights into the company’s operational performance. These measures are not intended to replace or act as alternatives to GAAP measures but rather to provide further context to Reservoir’s financial health and operational efficiency.

Reservoir Media, Inc., an independent music company, has reported a significant growth in its financial performance for the fiscal year 2024, ending March 31, 2024. The company announced a double-digit annual revenue growth across its music publishing and recorded music segments, surpassing its full-year outlook. This growth was partly attributed to the acquisition of publishing and recorded rights of legendary artists and emerging talents across various genres.
For the fiscal year 2024, Reservoir Media reported a total revenue of $144.9 million, marking an increase of 14% organically or 18% including acquisitions year-over-year. Specifically, music publishing revenue grew by 15% year-over-year, while recorded music revenue saw a 22% increase. The operating income for the year was $24.6 million, up by 17% from the previous year, and the company achieved an adjusted EBITDA of $55.6 million, reflecting a 20% increase year-over-year.
The fourth quarter of fiscal 2024 also saw substantial growth, with a total revenue of $39.1 million, an 8% organic increase or 12% including acquisitions compared to the same period in the previous year. The music publishing revenue for the quarter increased by 14% year-over-year, and recorded music revenue by 3%. The operating income for the quarter was $8.8 million, a 2% increase year-over-year, and adjusted EBITDA was $16.0 million, up by 6%.
Looking ahead, Reservoir has provided a fiscal 2025 financial outlook, expecting mid-single-digit revenue growth and adjusted EBITDA growth at the mid-point. The company’s CEO, Golnar Khosrowshahi, highlighted the year’s milestones, including the addition of several award-winning and legendary artists to their roster, and emphasized the company’s diversified portfolio of assets and strategic investments in artificial intelligence and machine learning to support growth. Reservoir aims to continue partnering with its roster of artists to bring their work to listeners worldwide and play a significant role in the future of music.