Reservoir Media has acquired Lastrada Entertainment’s publishing catalog, adding 5,600 titles to New York-headquartered Reservoir’s library of music rights.
Lastrada’s Rich Music History
Lastrada was founded by Herb Moelis in 1987 and is currently managed by his sons, Stephen Moelis and Larry Moelis. The catalog, which spans various genres since the 1960s, includes classics such as Captain and Tenille‘s Love Will Keep Us Together, More Bounces Per Ounce by Sepp, Whisper‘s And the Beat Goes On, and Jim Croce‘s Bad, Bad Leroy Brown and Time in a Bottle.
The catalog also features performances by notable artists such as Neil Sedaka, Dolly Parton, Glen Campbell, Carpenters, Pitbull, Eminem, The Notorious B.I.G., Leon Bridges, and H.E.R., among others.
The company states that the value of its catalog has increased due to the “frequent and innovative” sampling of its music, contributing to tracks like 2Pac‘s California Love, Mariah Carey‘s We Belong Together, and Will Smith‘s Miami.
“We have long admired Lastrada and the incredible catalog that the Moelis family has curated over the years. Stephen and Larry’s deep knowledge of music, along with their commitment to innovative sampling and synchronization, have elevated this catalog to iconic status,” said Rell Lafargue, president and chief operating officer of Reservoir, in a statement on Thursday (Jan. 16).
“We are honored that Reservoir is now home to Lastrada’s songs and we look forward to preserving the legacy created by the Moelis family and ensuring its continued success.”
“We have long admired Lastrada and the incredible catalog that the Moelis family has curated over the years.”
Rell Lafargue, Reservoir
Stephen Moelis, president of Lastrada, expressed that the Moelis family is “proud of the catalog of hits we have been a part of and the personal relationships we have developed with our incredibly talented songwriters.”
“Passing the creative torch to Reservoir is a natural next step in continuing the work we began with our father 40 years ago, and we want to thank (Reservoir founder and CEO) Golnar Khosrowshahi, Rell Lafargue, and the entire Reservoir team for being stewards of some of the greatest songs of all time.”
Reservoir’s Continued Growth
Since its launch in 2007, Reservoir has become a leading entity in acquiring music rights. In an investor newsletter published in early 2024, the company revealed it had spent a total of $938 million on acquiring music rights.
In its most recent quarterly earnings report for the second quarter of fiscal 2025 (or third quarter of 2024), Reservoir reported a 6% y/y increase in income to $40.7 million. The company reported an adjusted EBITDA of $17.6 million per quarter, up 11% y/y, which Reservoir attributed to rising revenue and improved gross margins.
The company adjusted its full financial year forecast to $150 million–$153 million in income for the fiscal year ending March 31, 2025, reflecting a 5% y/y increase in the midpoint. Additionally, the company raised its adjusted EBITDA guidance to $59 million–$62 million, corresponding to a 9% y/y midpoint increase.
Reservoir’s latest ventures include a global publishing partnership with singer-songwriter K.D. Lang, the acquisition of the catalog from 2Pac producer Big D Evans, rights to publish a collection of works by songwriter and guitarist Billy Strange, known for writing hits for Elvis Presley, and the purchase of production royalties from the catalog of Grammy-winning producer Jack Douglas.
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.
