In New York, home to Reservoir Media’s headquarters, the renowned British dance and electronic label New State has finalized a transaction that includes its entire recorded musical catalog, totaling more than 13,000 tracks.
Plans for Future Artists
The transaction, announced on Wednesday (February 19), ensures that New State will continue functioning as a label, signing and releasing new artists. These new artists, along with some of New State’s established acts, will benefit from marketing and promotion by Chrysalis Records, which Reservoir acquired in 2019. The cost of the acquisition has not been disclosed.
The New State label was established in 2004 by co-founder and Managing Director Tom Parkinson, who oversees the label alongside A&R and Marketing Director Tim Binns and Financial Director Mike Jones.
Its catalog spans various electronic genres, including House, Drum & Bass, UK Garage, Techno, Trance, and Progressive House. It features artists such as the electronic duo Zero 7, the electronic group Darling, legendary DJ and producer Paul Oakenfold, the music group Dirty Vegas, and the Anglo-Irish pop-dance group Dream. The label has also released albums and singles from artists like Ryan Blyth, Freejak, Guru Josh Project, Paul van Dyk, Ku DeTa, and Drumsound & Bassline Smith, among others.
“The acquisition of New State marks an exciting opportunity to enhance our recorded music business with another well-established, high-quality independent label, reinforcing our ongoing commitment to independent music,” stated Rell Lafargue, President and Chief Operating Officer of Reservoir.
“With the global reach of our Chrysalis Records team now supporting the legacy artists of New State, we strongly believe in elevating this incredible catalog and continuing to release new music to push the brand forward.”
“Thanks to the global coverage of our Chrysalis Records team, which now supports legacy artists of the New State, we firmly believe that this incredible catalog can elevate our offerings, while also continuing to release new music under the New State banner to enhance the brand moving forward.”
Rell Lafargue, Reservoir Media
Parkinson and Binns expressed in a joint statement: “We are delighted to finalize this deal with Reservoir and Chrysalis, which will empower New State to continue collaborating with incredible artists and their teams, further strengthen our working relationships, and ultimately grow our repertoire in meaningful and mutually beneficial ways.”
While Reservoir is often recognized for its acquisitions of recorded music and public rights, the company has also pursued strategies for acquiring labels since its founding in 2007.
In addition to Chrysalis and now New State, Reservoir has acquired indie labels such as TVT Records (2010), Reverb Music (2012), Philly Groove Records (2012), and Tommy Boy Music (2021).
With the mission to become the “largest music rights holder in the Middle East,” Reservoir has merged with indie publisher and music company focused on MENA, Pogarabia, through which it acquired the Egyptian label 100 sking and the Lebanese label and publisher Beirut’s Voice in 2022.
In an investor report published in early 2024, the label revealed it had spent nearly $1 billion on acquisitions by the end of 2023, with $770 million allocated to the purchase of catalogs and companies.
Lucas focuses on the interaction between music and society. He specializes in how music influences and reflects cultures, analyzing the role of sound in social, political, and cultural events around the world.
