NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today announced the first Environmental, The Social, Governance (ESG) Report details our global ESG goals and our progress towards those goals, reinforcing our strong commitment to corporate social responsibility.
Golnar Khosrowshahi, Founder and CEO of Reservoir, said: , community, clients, shareholders and industry. Music has a powerful and growing global influence, and Reservoir and our roster of creators are committed to promoting sustainability efforts, diversity, and advocacy within and outside our company. aims to increase the impact of ”
Report highlights include:
Combatting environmental impact and climate change
- The majority of Reservoir’s assets are held digitally, with only 9% of total revenue coming from physical products.
- We complete 99% of our royalty distributions electronically and continue to strive to eliminate physical distributions entirely.
Social responsibility and diversity
- Reservoir is proud to be founded and led by a woman. This is a key differentiator from its peers, boasting that 49% of her senior management positions (Vice President and above) are held by women in many divisions and business areas of the company.
- The company conducted an employee satisfaction survey in 2022 and had an 85% employee response rate. Notably, he 89% of respondents either “strongly agree” or “agree” with the following statements: Additionally, 93% of respondents either “agree” or “strongly agree” that the company is proud of the diversity of its creators.
- According to a 2021 Bureau of Labor Statistics report, Reservoir had no senior management team turnover and a full-time staff turnover of 6.25% in fiscal 2022, well below the national turnover rate of 57.3%. I’m here.
Governance and oversight
- On average, Reservoir board members have 19 years of leadership experience in music, entertainment and finance.
- Seven of the nine directors are non-employee directors and are considered independent, as defined by the NASDAQ Rules.
About Reservoir Media
Reservoir is an independent music company based in New York City with offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi. Reservoir is the first publicly traded independent music company founded and led by a woman in the United States. Founded in 2007 as a family-run music publisher, Reservoir has grown to include over 140,000 copyrights and over 36,000 masters of her recordings, with titles dating back to her 1900s and hundreds more. I will go up. A #1 release worldwide, Reservoir regularly holds the top 10 US market share positions according to Billboard’s Publishers Quarterly and has twice been named Publisher of the Year by Music Business Worldwide’s The A&R Awards and was named Independent Publisher of the Year at both the 2020 and 2022 Music Week Awards.
Reservoir represents numerous recorded music through Chrysalis Records, Tommy Boy Records, Philly Groove Records, and manages artists through its business with Blue Raincoat Music and Big Life Management.
Reservoir Media Co., Ltd.
Vice President of Marketing and Communications
Alpha IR Group
Alec Buchmelter or Alec Steinberg
Source: Reservoir Media, Inc.