Q1 2025 Reservoir Media Inc Earnings Call Transcript
Key Points
- Reservoir Media Inc (RSVR) posted total revenue of $34.3 million for the first quarter of fiscal 2025, up 8% including acquisitions and 6% on an organic basis.
- Music publishing segment saw a 15% increase in revenue, driven by digital and performance-based revenues.
- Adjusted EBITDA increased by 25% to $12.6 million, showcasing effective cost management and revenue efficiencies.
- Synchronization revenue in recorded music grew by 87%, with standout placements in high-profile media.
- Reservoir Media Inc (RSVR) continues to attract high-caliber talent and assets, enhancing its global and diverse team.
- Recorded music segment experienced a 7% decline in revenue compared to the prior year quarter.
- Net loss for the first quarter was approximately $500,000, compared to net income of $200,000 in the first quarter of fiscal 2024.
- Interest expense increased to $5.1 million from $4.7 million in the prior year, driven by higher SOFR rates.
- The company faces ongoing litigation and advocacy challenges related to Spotify's reclassification of its primary subscription tier.
- Operating expenses, including administration and amortization costs, grew by 6% and 5% respectively, adding pressure on margins.
Good morning, everyone, and thank you for participating in today's earnings conference call. Reservoir Media issued a press release with results for its first quarter of fiscal 2025 ended June 30, 2024 earlier this morning. If you did not receive a copy of our earnings press release, you may access it from the investor relations section of our website at investors.reservoir-media.com.
With me on today's call are Golnar Khosrowshahi, Founder and Chief Executive Officer; and Jim Heindlmeyer, chief financial officer. As a reminder, this call is being simultaneously webcast and will be recorded and archived on the Investor Relations section of our website. Before I turn the call over to Golnar and Jim, I'd like to note that today's discussion will contain forward-looking statements that reflect the current views of Reservoir Media about our business, financial performance, and future events, and as such, involves certain risks and uncertainties.
Our expectations, beliefs, and projections are expressed in good faith and we believe
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