Home Factor company Reservoir Media publishes its first ESG report

Reservoir Media publishes its first ESG report

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NEW YORK, July 29 10, 2022 (GLOBE NEWSWIRE) — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, today released its first environmental, social, and governance report. (ESG), which details the Company’s global ESG goals and progress against those goals, and reinforces the Company’s strong commitment to corporate social responsibility.

Golnar Khosrowshahi, Founder and Managing Director of Reservoir, said: “We are proud to publish our first ESG report in our first year as a public company, as it shows our commitment to having a positive impact for all of our parties. stakeholders, including our employees. , communities, customers, shareholders and industry. Music has a powerful and growing global influence, and Reservoir and our roster of creators will aim to extend our impact to promote sustainability efforts, diversity and advocacy within our company and beyond.

Highlights of the report include:

Environmental impact and the fight against climate change

  • The majority of Reservoir’s assets are owned digitally, with only 9% of our total revenue generated from the physical product.
  • The Company conducts 99% of its royalty distributions electronically and will continue to strive to completely eliminate physical distributions.

Social responsibility and diversity

  • Reservoir is proud to be founded and led by a woman, a key distinguishing factor from our industry peers, and boasts that women hold 49% of leadership positions (VP ​​and above) in many departments and business areas of the company.
  • The Company conducted an employee satisfaction survey in 2022, with an 85% response rate from its staff. In particular, 89% of respondents answered Totally agree or Agree with the following statement: “I am proud of the diversity of the Reservoir team”. Additionally, 93% of respondents certified that they agreed or strongly agreed that they were proud of the diversity of the company’s roster of creators.
  • Reservoir experienced no management team turnover and a 6.25% turnover rate among full-time staff for fiscal year 2022, which is well below the national rate of 57.3%, according to the Bureau of Labor Statistics 2021 report.

Governance and Oversight

  • On average, Reservoir Board members have 19 years of leadership experience in music, entertainment and finance.
  • 7 out of 9 members of the Board are non-employee Directors and considered independent, within the meaning of NASDAQ rules.

About Reservoir Media, Inc.

Reservoir is an independent music company based in New York and with offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi. Reservoir is the first independent music company founded and led by a woman in the United States. #1 releases in the world. Reservoir holds a regular share of the Top 10 in the U.S. market according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s A&R Awards, and won Independent Publisher of the Year at the Music Week Awards 2020 and 2022.

Reservoir also represents a wealth of music recorded through Chrysalis Records, Tommy Boy Records and Philly Groove Records and manages artists through its businesses with Blue Raincoat Music and Big Life Management.

Media Contact
Reservoir Media, Inc.
Suzy Arrabito
Vice President, Marketing and Communications
[email protected]
www.reservoir-media.com

Contact Investor
Alpha IR Group
Alec Buchmelter or Alec Steinberg
[email protected]

Source: Reservoir Media, Inc.