New York-based music publishing group Reservoir Media Management has appointed industry veteran Steven A. Storch to its team as Chief Financial Officer.
Alongside President Golnar Khosrowshahi and Chief Operating Officer Rell Lafargue, Storch will lead Reservoir’s financial operations from the company’s New York City headquarters.
While at Sony/ATV, Storch led the acquisitions of Viacom/Paramount Pictures’ Famous Music catalogue, Leiber and Stoller’s collection of mid-century hits and Bon Jovi’s rock catalogue.
Storch also implemented Sony/ATV’s global finance network, proprietary copyright and royalty system, and IT hub. Reservoir said the company’s global market share doubled under his leadership.
At Imagem, Storch triggered acquisitions of the Rodgers and Hart catalog and leading independent production music company 5 Alarm Music.
“We are thrilled to welcome Steve into a senior management role at Reservoir,” Khosrowshahi says. “We firmly believe that his experience and knowledge will take Reservoir to the next level as we continue to expand our catalog and sign groundbreaking talent.”
Storch said: “It is a privilege for me to join Golnar and Rell and the rest of the Reservoir team in helping to build onto Reservoir’s extraordinary catalog and writer roster.
“The company is perfectly positioned in the marketplace, with a laser focus on aggressively acquiring new catalogs, while providing writers and clients with the highest level of service and attention. I am thrilled by the opportunity to contribute to the continued success of the company.”
In addition to delving into his role at Reservoir, Storch plans to maintain his profile as a Certified Public Accountant, Certified Valuation Analyst, and a member of several key financial organisations, including the National Association of Certified Valuators and Analysts, the Association for Corporate Growth, and the American Institute of CPAs.
Reservoir boasts a robust collection of 75,000 copyrights and offices in Toronto and London. It represents more than 100 releases worldwide, performed by acts like Jason Derulo, Britney Spears, John Denver, Lady Gaga, Sheryl Crow, Big & Rich, Aaliyah, Justin Timberlake and Beyoncé.
The company is home to the catalogs of writers and producers including Nate “Danja” Hills, Billy Strayhorn, Scott Storch, Ina Wroldsen, and Stephen “Static Major” Garrett, and proudly represents performing artists including 2 Chainz, Phantogram, and MØ.
In 2012, Reservoir acquired UK independent music company Reverb for an undisclosed fee.Music Business Worldwide