Reservoir Media Raises Full-Year Forecast After Revenue Rises 10%

Reservoir Media raised its full-year forecasts for revenue and Adjusted EBITDA on November 4, 2026, after reporting $49.9 million in revenue for the three months ended September 30.

The company, which owns and manages catalogues of songs and recordings, said that revenue for that quarter was up 10% on the same period a year earlier. Excluding acquisitions, the increase was 4%. Its reporting period is its fiscal second quarter for 2027, though it also refers to the same three months as calendar Q3 2026.

The growth came from two main businesses. Music publishing, which earns money when songs are recorded, streamed, performed or used in films and adverts, brought in $33.2 million, up 8%. Recorded music, which covers income from owned master recordings, rose 18% to $15.4 million. Within that business, operating profit before depreciation and amortisation, a measure known as OIBDA, reached $8.3 million, up 26%. Digital income in publishing reached $17.6 million, up 10%.

Reservoir said the double-digit growth in recorded music was driven by digital income and neighbouring rights. Neighbouring rights are payments made when recordings are played on radio, in shops and in other public places.

On profit, the company reported operating income of $12.3 million, up 15%. Its OIBDA came to $20.7 million, up 14%. Adjusted EBITDA, a profit figure that adds back interest, tax, depreciation and some one-off costs, was $22.1 million, up 14%. Reservoir also raised its guidance, which is its own forecast for the full year, for both revenue and Adjusted EBITDA.

Three weeks earlier, the company had announced a new deal. On October 21, 2026, Reservoir said it would acquire rights to the recorded music catalogue of Jose Feliciano. Feliciano is the songwriter and performer of "Feliz Navidad", a Christmas song that has been recorded and played for decades. The deal also includes non-exclusive rights to his name, image and likeness, which means the rights are not solely Reservoir's to use.

A catalogue deal like this one adds recordings and songs to a company's collection, and the company then earns income from them each time they are streamed, played or licensed. Behind those totals are the songwriters, performers and rights holders who are paid from the same royalties. For the wider music business, the figures show how much of the money now comes from ongoing streams and broadcast payments rather than one-off sales.