Reservoir Media has posted steady third‑quarter gains on the strength of its publishing division and lifted its full‑year outlook, underscoring the company’s bet on copyrights and global collections.
Revenue for the quarter ended Dec. 31 rose 8% to $45.6 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 11% to $19.2 million. Net income fell to $2.2 million from $5.3 million a year ago, largely due to swap valuation and interest expense, adding that the dip was “partially offset by an increase in operating income and a decrease in income tax expense.”
Publishing remained the core engine: segment revenue climbed 12% to $30.1 million, powered by a 42% surge in performance income and continued gains in digital, aided by catalog acquisitions and streaming growth. Publishing operating income before depreciation and amortization (OIBDA) jumped 21% to $11 million, with margin expanding to 37% as costs eased. Synchronization revenue grew 11% to $4.6 million, partially offsetting declines in mechanical royalties.
Recorded Music delivered an 8% increase to $12.9 million, led by 15% growth in digital and a 29% jump in neighboring rights, while physical and sync revenue softened. Recorded Music OIBDA improved 5% to $6.7 million, with margin edging to 52% despite higher costs.
Management highlighted a “disciplined” approach to dealmaking and a diversified pipeline. During the quarter, Reservoir struck a JV with Jamaican publisher Abood Music and producer Cordell “Skatta” Burrell; acquired the catalog of yacht rock songwriter Bertie Higgins (for publishing and recorded music rights); signed publishing deals with Say She She, Allison Veltz Cruz and Britten Newbill; and extended its agreement with Indian hip‑hop star DIVINE.
Citing momentum in publishing, Reservoir raised its FY26 guidance to $170–$173 million in revenue and $71.5–$73.5 million in adjusted EBITDA.
“This quarter, we continued to execute with focus and discipline, advancing our top-line objectives while maintaining strong cost and balance sheet control,” said CEO Golnar Khosrowshahi. “Across a range of new deals this quarter, spanning emerging talent and enduring cultural icons, and with our commitment to creators at the forefront of everything we do, Reservoir remains a trusted global partner.”
Check out the rest of this week’s publishing news below:
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Gilberto Gil (Primary Wave + Nas Nuvens)

Image Credit: Douglas Fischer Primary Wave Music and its South American parceiro Nas Nuvens Music Group have formed a major partnership with iconic Brazilian composer, singer and guitarist Gilberto Gil. The deal unites the Tropicália legend with two leading indie music companies to preserve and globalize Gil’s catalog. The collaboration aims to protect his legacy while accelerating international reach across new platforms and generations, building on decades of stewardship by Flora Gil and the Gege team. A key force in Brazilian music for more than six decades, Gil has released over 60 albums, earned multiple Grammys, and continues his farewell tour through 2026, including a headlining Rock in Rio performance. “Gilberto Gil is the living embodiment of Brazilian culture on the world stage, representing everything that makes Brazil unique and globally relevant,” said Jason Eliasen, CFO & COO of NNMG. “This partnership is not only iconic for Brazil, but a landmark moment for global music, recognizing the universal importance of Gil’s work.”
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Seth Michael (Prescription Songs)

Image Credit: Courtesy of Prescription Songs Prescription Songs, in partnership with 7Hills Music, has signed Nashville-based producer, singer and songwriter Seth Michael. Brought in by Prescription’s Chris Martignago and Sophia Battaglia along with 7Hills’ Hannah Montgomery Bay‑Schuck, Michael has already worked on tracks like Will Terry’s “Hell at This Point” and Skeez & David J’s “Drinkin Again.” A versatile vocalist and session musician, he’s contributed to releases from Ashley Cooke, Warren Zeiders, Alana Springsteen and others, with upcoming collaborations including Midland and Nate Smith. “His work ethic is truly unmatched, and his balance of hustle and heart radiates through every session—raising the bar musically and energetically,” shared Martignago and Battaglia.
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Loyle Carner (BMG)

Image Credit: Lily Brown/Billboard UK BMG has signed a global publishing deal with U.K. rapper Loyle Carner. The BRIT Award-nominated musician has released four studio albums in his career, most recently 2025’s hopefully ! via EMI. Two of his LPs – 2017’s Yesterday’s Gone and 2022’s Hugo – were nominated for the U.K.’s prestigious Mercury Prize. Throughout his career, the London-born musician has collaborated with Olivia Dean, Jorja Smith, Sampha, Tom Misch and more; his work has amassed over 1.1 billion streams. “I have a deep respect for the team at BMG,” Carner said. “What they’re building feels special and was something I couldn’t miss the opportunity to be part of.” Clemmie Woodhouse, BMG’s senior director, A&R publishing, added: “We’re delighted that Loyle has joined the BMG roster. He’s a one-of-a-kind artist and songwriter, and from our first meeting it felt like we were going to have a very exciting partnership. We’re really looking forward to this next chapter with him and his team.”
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LabelWorx Launches Publishing Division
LabelWorx has launched a publishing division, adding publishing administration and sample‑clearance services to its global distribution and label‑services platform. The move reflects growing demand for flexible monetization options as artists increasingly seek transparent models that match rapid music discovery cycles. Central to the new offering is a so-called Single Song Assignment (SSA) model, allowing creators to opt in per track rather than commit to long‑term deals. VP Dominic Kerley says the goal is to eliminate the traditional trade‑off between access and autonomy by pairing SSAs with sample clearance. The launch builds on LabelWorx’s 15‑year history supporting top dance labels including Catch & Release, Solid Grooves, ARTCORE, Black Book Records and Hellbent.
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Clara Mann + Helen Grime (Wise Music Group)

Image Credit: Fabian Prynn Wise Music Group has expanded its publishing roster with the signing of Franco‑British singer‑songwriter Clara Mann (pictured) and the contract renewal of acclaimed classical composer Helen Grime MBE. Mann joins under the Campbell Connelly catalogue in a deal covering her back catalog and future works; her debut album Rift and recent Live in the Royal Albert Hall EP showcase the poetic, intimate songwriting that drew praise from Wise executives. Grime, whose relationship with Chester Music began in 2010, renews her agreement following a standout year that included winning the Ivor Novello Award for Best Orchestral Composition and serving as Featured Artist at the 2025 Aldeburgh Festival. The deals reinforce Wise Music Group’s commitment to contemporary songwriters and leading classical composers alike.
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Tundra (Prescription Songs)

Image Credit: Courtesy Photo Prescription Songs has signed hip-hop artist, producer and songwriter Tundra, a deal led by A&R executive Lauren Kennedy. Atlanta‑born Jaden “Tundra” Martin is building a reputation for blending mainstream sensibilities with Southern trap and underground grit, collaborating with producers like BankrollGotit, Kid Hazel, 10Fifty, ThankUTimmy and Richie Souf. His growing catalog spans polished anthems and hard‑edged tracks, and he’s earned synch placements on HBO Max’s Rap Sh!t. “I’m beyond grateful for the opportunity to work with a creative who is shaping the future of music!” Said Kennedy. “Tundra’s energy, consistency, and dedication to his craft is unmatched and a constant reminder of why I love what I do!”
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Primary Wave + RUN

Image Credit: Courtesy Image Primary Wave Music has made a major strategic investment in RUN, marking the music‑financing platform’s largest and first institutional funding since its 2023 launch. The deal will allow RUN to offer advances of up to $25 million per transaction to artists, writers, producers and other creators. Founded by Diego Farias and Christoffer Mård, RUN provides short‑term advances and full catalog financing, using machine learning and historical data to value music rights and process detailed royalty statements. Partnering with Primary Wave will accelerate RUN’s deal flow and expand its reach, while giving Primary Wave access to cutting‑edge underwriting tools that support its broader investment strategy. RUN operates from Los Angeles and Stockholm.
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ICYMI

Image Credit: James Macari UMPG appointed Catalina Santa Peña as managing director of its Mexico office, while the rise of interpolations in new hits has reignited debate over credit for legacy songwriters. Sony Music Publishing Nashville and Domain Capital Group teamed up to acquire Miranda Lambert’s catalog, and UMPG — alongside NWS Music Group — signed The Art of Loving executive producer Zach Nahome. Meanwhile, the NMPA promoted longtime executives Danielle Aguirre and Charlotte Sellmyer. [FULL STORIES]









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