Reservoir Media Expands Dance Music Portfolio by 40% with New State Acquisition
Reservoir Media has acquired U.K. dance label New State, expanding its recorded music catalog by over 13,000 tracks and growing its total recordings by nearly 40%.
Paul Oakenfold seated by bookshelf
The acquisition includes works from notable artists like Paul Oakenfold, Zero 7, The Beloved, and Dirty Vegas. New State's legacy artists will now be marketed and promoted by Reservoir's Chrysalis division, while the label will continue signing and releasing new electronic and dance music under its existing brand.
Tom Parkinson will remain at New State's helm, overseeing operations including sub-labels Butterfly Effect, Maelstrom Records, and Upcycle Recordings. The deal increases Reservoir's recorded music catalog from 36,000 to approximately 49,000 tracks, complementing their existing 150,000 compositions.
Recent financial highlights for Reservoir include:
- Q4 2024 recorded revenue: $11.96 million (19.65% YoY increase)
- Q4 2024 publishing revenue: $26.89 million (16.2% YoY increase)
- Digital recorded revenue: $8.14 million (24% YoY growth)
- Catalog investment: $70.2 million (April-December 2024)
This acquisition follows a broader industry trend of investment in electronic and dance music, with recent deals including Create Music Group's purchase of Enhanced Music and Believe's 25% stake in Global Records.
Digital audio waveform visualization
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