Reservoir Media, a leading music rights company headquartered in New York, has recently expanded its collection through the acquisition of Lastrada Entertainment's publishing catalog. This move adds an impressive 5,600 compositions to Reservoir’s extensive library, further solidifying its position in the industry. The newly acquired catalog spans multiple genres and decades, featuring iconic songs that have shaped popular culture since the 1960s. These tracks have been widely recognized and sampled in modern hits, enhancing their value and relevance.
The leadership transition marks a significant milestone for both companies. Founded by Herb Moelis in 1987 and currently managed by his sons Stephen and Larry Moelis, Lastrada has cultivated a treasure trove of musical works over the years. Songs from this catalog have been performed by renowned artists such as Neil Sedaka, Dolly Parton, Glen Campbell, and many others. Rell Lafargue, President and COO of Reservoir, expressed admiration for Lastrada’s legacy and commitment to innovative sampling, which has elevated these songs to iconic status. The Moelis family is confident that passing the torch to Reservoir will ensure the continued success and preservation of this esteemed collection.
This acquisition underscores Reservoir's strategic growth and financial strength. Since its establishment in 2007, Reservoir has emerged as a prominent player in the music rights market, investing heavily in acquisitions. In recent financial reports, the company showcased robust revenue growth and improved profitability, reflecting its strong market position. By acquiring valuable catalogs like Lastrada's, Reservoir not only enriches its portfolio but also contributes to the ongoing evolution of music history. The deal exemplifies the company's dedication to preserving and promoting timeless music for future generations.
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