Reservoir Media brought in $41.5 million in revenue for the three months ended June 30, 2026, a 12% jump from the $37.2 million it reported in the same quarter a year earlier, according to figures released via PR Newswire on August 4 and detailed by Music Business Worldwide on August 5. The New York-listed company, which trades under the ticker RSVR, posted the numbers for its fiscal first quarter of 2027 — the calendar second quarter of 2026.

Strip out acquisitions, and the organic growth rate lands at 6%. The gap between the headline 12% and the organic 6% tells you how much of the lift came from buying catalogues rather than from existing assets earning more. Reservoir has been spending.

The recorded music division was the standout. It generated $14.1 million, up 35% year over year, with segment OIBDA — operating income before depreciation and amortisation, a measure that strips out non-cash charges to show underlying operating performance — rising 26% to $6.1 million. Within that division, digital revenue climbed 23% to $9.9 million, driven by catalog acquisitions and streaming growth. Physical revenue jumped 54% to $1.7 million. Synchronisation revenue — income from placing music in film, television and advertising — leapt from $0.3 million to $1.4 million.

CFO Jim Heindlmeyer told analysts that jump came from a couple of large sync deals closed during the quarter and cautioned that sync income is inherently uneven from quarter to quarter, according to Music Business Worldwide.

Music publishing, the larger of Reservoir's two segments, grew more modestly. It generated $26.5 million, up 6%, with segment OIBDA up 3% to $7.8 million. Publishing digital revenue climbed 7% to $15.4 million and performance revenue — earned when music is played publicly, on radio or in venues — rose 17% to $5.6 million. Synchronisation revenue for publishing fell 3% to $4.0 million, mechanical revenue — paid when music is reproduced, such as on physical discs or downloads — declined 7% to $0.6 million, and other revenue dropped 12% to $0.9 million.

At the company level, operating income was $5.4 million, down 1%. Adjusted EBITDA grew 13% to $15.7 million. The slight dip in operating income against rising EBITDA reflects higher costs — including amortisation of the catalogues Reservoir has been acquiring — weighing on the bottom line even as cash earnings improve.

And Reservoir has been acquiring aggressively. During the quarter it signed a publishing agreement with hip-hop artist T.I. covering his entire publishing catalogue and future works. It acquired the catalogues of Nacional Records and its publishing arm Canciones Nacionales, and formed a joint venture to sign and develop Latin music artists and songwriters. It entered a second joint venture with Latin music company TU Publishing. It partnered with U.K. A&R executive Ollie Hodge to bring his label Some Action under its recorded music operations. It added songwriter-producer Adam Kapit to its publishing roster and signed alt-pop/rock artist Jarrett Doherty as its first artist under a new arrangement.

CEO Golnar Khosrowshahi tied the Latin push to regional growth, citing IFPI data showing Latin America revenues grew 17.1% in 2025 — the region's 16th consecutive year of growth, according to Music Business Worldwide.

For a company of Reservoir's size — a fraction of the three majors — a 35% recorded music surge and a string of catalogue deals in a single quarter is a clear signal of where it is directing capital: Latin music, hip-hop publishing and U.K. recorded repertoire. The publishing segment's steadier single-digit growth is the base; the recorded music division, enlarged by acquisition, is where the momentum shows up.