Reservoir Media Releases Its Fiscal 2023 ESG Report
26 Juillet 2023 - 2:30PM
Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the
“Company”), an award-winning independent music company, today
issued its fiscal 2023 Environmental, Social, and Governance (ESG)
Report, which details the Company’s global ESG objectives and
progress made against those objectives, and reinforces the
Company’s strong commitment to corporate social responsibility.
Golnar Khosrowshahi, Founder and Chief Executive
Officer of Reservoir, stated, “We are pleased to share our second
ESG report since becoming a public company two years ago. The
principles behind ESG have been embedded in our company’s culture
and business practices since inception, and through them, we
continue to support the positive influence music has on communities
around the world through the remarkable efforts of our team,
artists, songwriters, and creators.”
Highlights from the report include:
Environmental Impact and Combatting
Climate Change
- Reservoir remains a physical
asset-light company, with only 17% of Recorded Music revenue
related to the sale of physical product.
- 99% of royalty distributions are
sent electronically, and approximately 94% of royalty sources pay
electronically.
Social Responsibility and
Diversity
- Reservoir employees are split
equally across gender, with nearly 48% identifying as female, 50%
identifying as male, and 2% preferring to self-describe or not to
say. In addition, almost 40% of senior management identify as
female.
- The Company conducted an Employee
Satisfaction Survey in 2023, with a 100% response rate. Notably,
94% of respondents agree or strongly agree with the following
statement: “The work I do is meaningful.” Additionally, 88% of
respondents agree or strongly agree with the statement “I enjoy the
culture at my company.”
Governance and Oversight
- On average, Reservoir Board members have 20 years of leadership
experience across music, entertainment, and finance.
- 33% of Reservoir’s Board of Directors identify as a woman and
33% identify as part of an underrepresented community.
About Reservoir Media, Inc.
Reservoir is an independent music company based
in New York City and with offices in Los Angeles, Nashville,
Toronto, London, and Abu Dhabi. Reservoir is the first
female-founded and led publicly traded independent music company in
the U.S. Founded as a family-owned music publisher in 2007,
Reservoir has grown to represent over 150,000 copyrights and 36,000
master recordings with titles dating as far back as 1900 and
hundreds of #1 releases worldwide. Reservoir holds a regular Top 10
U.S. Market Share according to Billboard’s Publishers Quarterly,
was twice named Publisher of the Year by Music Business Worldwide’s
The A&R Awards, and won Independent Publisher of the Year at
both the 2020 and 2022 Music Week Awards.
Reservoir also represents a multitude of
recorded music through Chrysalis Records, Tommy Boy Records, and
Philly Groove Records and manages artists through its ventures with
Blue Raincoat Music and Big Life Management.
Source: Reservoir Media, Inc.
Media Contact
Reservoir Media, Inc.
Suzy Arrabito
Vice President, Marketing & Communications
sa@reservoir-media.com
www.reservoir-media.com
Investor Contact
Alpha IR Group
Jackie Marcus or Alec Buchmelter
RSVR@alpha-ir.com
Reservoir Media (NASDAQ:RSVR)
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