Reservoir Media, headquartered in New York City, has invested in audio entertainment company and podcast content production studio Audio Up.
As one of the “key contributions” of the recently announced $ 12 million Series B closing by Audio Up, which was led by SiriusXM, Reservoir says its investment will help Audio Up further develop its ecosystem of premium entertainment content in the music and audio space.
Additionally, Reservoir and Audio Up are working together on collaborative audio entertainment projects using Reservoir’s copyright catalog.
Created in 2020 by Jared Gutstadt (formerly of creative music agency Jingle Punks), Audio Up is a podcast content production studio that has built a roster of original and distinctive scripted audio entertainment with names across the music ( Machine Gun Kelly, 24kGoldn, Miranda Lambert, Nelly), Hollywood (Anthony Anderson, Garrett Hedlund, Jason Alexander, Shea Whigham, Gael Garcia Bernal, Taye Diggs) edition (James Ellroy, Stephen King), and more.
Unscripted properties include the gripping 20 best crimes podcast Where The Bodies Are Buried and Michael Cohen’s chart-topping podcast Mea Culpa.
Reservoir joins a list of investors in the entertainment and advertising industries including SiriusXM, multi-platinum artist The Weeknd, Music Director Wassim “Sal” Slaiby, Music Director Larry Rudolph, CEO of Hasbro / eOne Darren Throop, Founder of Draft FCB and Peloton Board member Howard Draft, CEO of gaming / lifestyle giant FaZe Clan Lee Trink, Jordan Levy and Sacha Robles.
In May of last year, Primary Wave took a stake in Audio Up.
Reservoir Founder and CEO Golnar Khosrowshahi said, âThis transformative collaboration marks another key moment in Reservoir’s evolution as we further redefine our business as a listening business.
âJared and Audio Up are creating innovative storytelling experiences through music and we look forward to all the opportunities this creates for listeners and rights holders. “
âReservoir’s investment is truly geared towards the future of audio entertainment, bringing the Reservoir catalog to life for a whole new audience. “
Audio Up Founder and CEO Jared Gutstadt said, âOur company is a company of firsts.
âAnd Reservoir’s investment is truly geared towards the future of audio entertainment, bringing the Reservoir catalog to life for a whole new audience.
âThis partnership underscores how important audio media are to music rights holders in the media landscape, as they push audiences to new levels.
âReservoir inherently understands this model and the unique advantage of being a music publishing and masters platform integrated into the podcast / audio multimedia space. “
Reservoir Media signed a new deal last month with music icon Joni Mitchell, which sees the company become the global administrator of its publishing catalog.
Tank confirmed its latest tax results last month, revealing that its total revenue for the fiscal year ended March 2021 was $ 81.1 million, up 28% year-on-year.Music trade around the world