RESERVOIR AND POPARABIA ACQUIRE LEBANESE MUSIC COMPANY VOICE OF BEIRUT
Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music company, in conjunction with PopArabia, the leading music publisher and independent music company in the Middle East and North Africa (MENA), announced the acquisition of iconic Lebanese label and music publisher, Voice of Beirut. This acquisition builds on Reservoir’s emerging markets strategy, further diversifying the Company’s music rights in the fast-growing MENA region.
Spek, PopArabia Founder and Reservoir Executive Vice President of International and Emerging Markets, commented, “The acquisition of Voice of Beirut deepens Reservoir and PopArabia’s presence in the Arab world. Not only is it the largest Middle East acquisition we have done thus far – in terms of catalog size – but when viewed in context with the other crucial deals we’ve done this year, it is clear we are firmly establishing ourselves as a meaningful player in the Arabic music space.”
Reservoir Founder and Chief Executive Officer, Golnar Khosrowshahi, added, “Reservoir continues to demonstrate its commitment to our strategy of investment in the MENA region and emerging markets. Through our efforts with PopArabia and deals like the acquisition of Voice of Beirut, we now represent a growing breadth of diversity in music from the Middle East across styles, eras, and rights types. We’re excited to share that music on a global scale, especially as we continue to see increasing interest in regional music around the world.”
Founded in 1980, Voice of Beirut has grown to include sound recording and publishing rights to nearly 3,000 songs that are a cross section of Lebanese pop from the 1980s through to the mid 90s. Featuring a variety of both traditional Arabic songs, as well as modern pop artists from the Levant region, the catalog represents a rich mixture of regional music from across the entire Middle East, such as albums by Arab stars including: prolific Syrian artist George Wassouf, who has sold over 60 million records worldwide and is recognized as one of the most successful Arab singers of his era; Lebanese artist and television star, Ragheb Alama; as well as music by Lebanese icons including composer Ziad Rahbani and the legendary actress and singer Sabah.