News Release

NEW YORK, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today announced the signing of singer-songwriter Madison McFerrin to a worldwide publishing deal that includes her entire catalog and future works.

Based in Brooklyn, McFerrin has released two EPs thus far, with The New York Times praising her “wonderful vocal dexterity, deftly swerving from sharp, clearly enunciated staccato bursts to fluttery, free-form melismata.”

McFerrin’s 2019 a cappella EP series, Finding Foundations, inspired Questlove to dub her sound “soul-appella.” Her follow up, You + I, expanded upon her a cappella sound, pairing her timeless voice with modern production. Since its release in December 2019, You + I continues to impress listeners, with The FADER noting her “warm harmonies feel effortless” and AFROPUNK highlighting how “lush production and instrumentation accompany her angelic voice.” Additionally, the EP’s lead single “TRY” has garnered over 4 million streams across Spotify and YouTube.

McFerrin continued to create during the pandemic, releasing timely new music, such as “Stay TF Inside,” which was featured on VICE News – Receiver. She also debuted her first foray into beat-making with the We’ll Be Okay Beatpack. McFerrin showcased her newfound production skills on her 2020 single, “Hindsight,” and in 2021, she had viral success with a social media riff turned full single, “Guilty (Extended Mix).” This year, McFerrin is a guest co-curator and performer for the sold-out BRIC Jazzfest, the acclaimed three-day marathon Jazz festival in Brooklyn. Her first full-length album is expected in 2022.

“I’m excited to take my career as a singer, songwriter and producer to the next level through joining the dynamic roster at Reservoir,” said McFerrin. “In addition to the stellar group of artists, I’m equally grateful to join forces with such a talented and diverse, women-led team of music industry pros.”

David Hoffman, Reservoir’s VP of A&R and Marketing, added, “After years of being a fan of and getting to know Madison, I’m so happy that she is joining the Reservoir roster. She’s a world class talent and we can’t wait to help support her music and grow her audience even more.”

ABOUT RESERVOIR

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 U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir has grown to represent over 130,000 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 the 2020 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.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements with respect to the financial condition, results of operations, earnings outlook and prospects of Reservoir. Forward-looking statements are based on the current expectations and beliefs of the management of Reservoir and are inherently subject to a number of risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual financial condition, results of operations, earnings and/or prospects to be materially different from those expressed or implied by these forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The risks, uncertainties and/or assumptions include, among others, those discussed and identified in public filings made with the Securities and Exchange Commission by Reservoir and the following:

• expectations regarding Reservoir’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures;
• Reservoir’s ability to invest in growth initiatives and pursue acquisition opportunities;
• the ability to achieve the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Reservoir to grow and manage growth profitably and retain its key employees;
• the inability to maintain the listing of Reservoir’s common stock on the Nasdaq Stock Market LLC and limited liquidity and trading of Reservoir’s securities;
• geopolitical risk and changes in applicable laws or regulations;
• the possibility that Reservoir may be adversely affected by other economic, business and/or competitive factors;
• risks related to the organic and inorganic growth of Reservoir’s business and the timing of expected business milestones;
• risk that the COVID-19 pandemic, and local, state and federal responses to addressing the COVID-19 pandemic, may have an adverse effect on Reservoir’s business operations, as well as its financial condition and results of operations; and
• litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on Reservoir’s resources.
  

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of Reservoir prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

Except to the extent required by applicable law or regulation, Reservoir undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

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 Mike Dwyer RSVR@alpha-ir.com Source: Reservoir Media, Inc.