Reservoir Media has made a significant move by acquiring the publishing catalog of Lastrada Entertainment, adding 5,600 new compositions to its collection. This acquisition strengthens Reservoir’s status in the music industry.
Lastrada Entertainment, established in 1987 by Herb Moelis, is now managed by his sons, Stephen and Larry Moelis. Their catalog features a wide range of music from the 1960s to today, including iconic hits like Love Will Keep Us Together by Captain & Tenille, More Bounce To The Ounce by Zapp, and Bad, Bad Leroy Brown by Jim Croce.
This collection also boasts songs from well-known artists such as Neil Sedaka, Dolly Parton, Glen Campbell, and Eminem. Many of these songs have gained renewed popularity thanks to creative sampling in songs like California Love by 2Pac and We Belong Together by Mariah Carey.
The exact financial details of the deal were not revealed. However, Rell Lafargue, President and COO of Reservoir, expressed admiration for the Moelis family’s work and the importance of this catalog, highlighting their commitment to preserving its legacy.
Stephen Moelis, now President of Music Publishing at Lastrada, shared his pride in the catalog and the relationships forged with talented songwriters over the years. He sees this partnership with Reservoir as a natural evolution for the family’s legacy in music.
Since its inception in 2007, Reservoir has established itself as a major player in the music rights market. Recent reports show that it has invested around $938 million in music rights acquisitions. In its latest financial update, Reservoir reported a 6% year-over-year revenue increase and uplifts in earnings as it heads into the next fiscal year with optimistic projections.
This acquisition of Lastrada’s catalog is just one in a series of strategic deals for Reservoir, which has recently partnered with various artists, including k.d. lang and the catalog of 2Pac’s producer Big D Evans.
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