Photo Credit: Reservoir Media
Independent publisher Reservoir Media posts a substantial quarterly net earnings drop in its 2nd financial quarter, while appealing more IP acquisitions ahead.
Indie music publisher Reservoir Media revealed the results of its 2nd financial quarter that ended on September30 The business reported a produced profits of $38.4 million throughout the quarter, up 10% from the exactsame duration last year, with 15% consistingof acquisitions.
Music publishing played a significant function in Reservoir’s earnings in Q2, contributing $25.9 million and an general 8% year-over-year development. Meanwhile, earnings from Reservoir’s taped music department increased to $10.8 million — a 22% year-over-year boost.
Operating earnings fell to $6.1 million, while web earnings came to $0.7 million as opposed to its $4.5 million in 2023’s 2nd quarter; $0.01 per share versus $0.07 per share.