Reservoir Media Revenue Up 31% on Streaming Gains ...Middle East

Continued growth in music subscriptions and new Copyright Royalty Board mechanical royalty rates helped Reservoir Media improve revenue 31% to $31.8 million in the fiscal first quarter ended June 30, the company announced Wednesday. About two-thirds of the improvement came from organic revenue growth while the remainder stemmed from the acquisitions of music catalogs of The Spinners and Greg Kihn, among others. Digital revenue improved 34% to $17.5 million due to “increasing demand trends for streaming music globally, something we saw evidence of in Spotify’s higher-than-expected subscriber numbers reported last week

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