Reservoir founder Golnar Khosrowshahi discusses the publisher's data-first approach & 'getting deeper into masters'
In May 2017, Reservoir began to expand further when it purchased a stake in artist management and publishing company Big Life Management, which represents clients including Badly Drawn Boy and Bloc Party. In August, it acquired Blue Raincoat Music and its subsidiary Chrysalis Records, which owns the master rights to songs like Sinéad O'Connor's "Nothing Compares 2 U" and Generation X's "Dancing With Myself.
Now, Reservoir is a full-service music company with 110,000 copyrights, 20,000 master recordings and locations in New York, Los Angeles, Toronto, London — and Nashville, which opened in April. But Khosrowshahi is always looking for more ways for Reservoir to expand. "We anticipate getting deeper into masters," she says. "We are certainly looking at ways we can participate in the emerging markets and add that to our services.
Collections, administration, how we get paid and tracking licenses are probably eventually going to be automated. But understanding the music and the trajectory of somebody's career, and the right song for a film trailer or an advertising placement, are where we have the best people. The data make those people better at what they do, but it's not driving what they do.
I certainly think there's a lot more competition, and the days of buying things at very low multiples are over. Some people are describing it as a very "frothy" marketplace. We're certainly not going to join this multiples race. We fully acknowledge the growth and the shift in our assumptions as far as what we would've valued something at five years ago versus today.
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