Reservoir Media founder and chief executive officer Golnar Khosrowshahi says the independent music company is “fighting the good fight” in its quest for fair compensation for songwriters.
The New York City-based firm, which was founded as a family-owned music publisher in 2007, represents copyrights and master recordings including titles dating as far back as 1900, as well as a multitude of recorded music through Chrysalis Records, Tommy Boy Music and Philly Groove Records.
It also manages artists through its ventures with Blue Raincoat Music and Big Life Management.
Speaking in the June issue of Music Week, Khosrowshahi offered her take on the reasons artists trust Reservoir with their catalogues.
“It’s a feeling that they get that they are talking to a group of people who understand music, who have a track record and have been working together for a long time,” said the Iranian-Canadian executive. “We have clients who have renewed with us year after year and that record speaks for itself. Then there’s a general familial sense, and that is important because we work in an industry that isn’t so formal and does extend into the evening and after hours.
“[Artists ask themselves], ‘Is this somebody I want to have dinner with?’ I think people leave their interactions with us thinking that, if we could be friends, we will likely be friends forever and we’ll be in business together for some part of that.”
Khosrowshahi, who also serves as a director on the board of the National Music Publishers’ Association, said that despite certain setbacks, she remained hopeful of seeing fair remuneration for creators down the line.
“Every so often, you read something that just alarms you, such as Elon Musk and [Block CEO] Jack Dorsey agreeing on dismantling IP laws. Your stomach sinks,” she said. “But, barring that, participation with the NMPA [National Music Publishers’ Association], continued advocacy and protection of rights… that’s all we can do to make sure we get to a point where songwriters and other creators believe that they’re being fairly compensated and that we believe that, too. We’re fighting the good fight.”
Our reality should be that we are talking about leaders in the context of being great leaders, not defined by their gender
Golnar Khosrowshahi
Reservoir, which also has offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi, recently launched a new subsidiary, Mumbai-based PopIndia, whose first publishing deal is with singer, songwriter, rapper and YouTube star Yohani.
With Reservoir having grown to own and administer over 140,000 copyrights and 36,000 master recordings, Khosrowshahi reflected on the deals that had filled her with the most personal pride over the years.
“I probably have proximity bias, but recent times have [seen us do deals with] Joni Mitchell and KD Lang, so that Canadian angle, for me, meant a lot,” she said. “Also, Snoop Dogg and Death Row and putting out De La Soul’s music, these were all really big moments. I can’t pick one because they all have meaning for different reasons.
“I will say that the TVT Music deal we did in 2010 was probably the one that has taught us most, that has defined our investment strategy and continues today to be a top performer just because of the music. The value of what that catalogue has taught us has been unparalleled.”
Reservoir is the first female-founded and led publicly traded independent music company in the US. And Khosrowshahi, who came out on top in the International Woman category at the 2023 Music Week Women In Music Awards, emphasised the importance of talking about equality and representation in the industry.
“When we speak about these issues, we try to make it not generic and we try to talk about something that’s important and topical, but I also think that we are responsible for the perception that we make reality,” she concluded. “Our reality should be that we are talking about leaders in the context of being great leaders, not defined by their gender. If we continue to perpetuate that, then maybe the people coming after us are going to have fewer obstacles.”
The full Aftershow interview with Khosrowshahi, in which she recalls going to Joni Mitchell’s house and visiting Nasdaq with Offset, can be read in the latest edition of Music Week.
PHOTO: Becky Yee
For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter
