New York based Reservoir Media has acquired hit songs by Platinum-selling songwriter and producer Dallas Austin.
Austin’s catalog spans several decades and includes hit songs such as Boyz II Men’s Motownphilly, several hits off Madonna’s 3x-Platinum selling Bedtime Stories, Gwen Stefani’s Cool, P!nk’s Just Like a Pill and Don’t Let Me Get Me, Michael Jackson’s 2 Bad, and many more.
Also, Austin notably collaborated on five tracks off TLC’s debut album Ooooooohhh… On the TLC Tip, including singles Ain’t 2 Proud 2 Beg and What About Your Friends.
He went on to contribute to two Hot 100 No.1’s for the group, writing and producing 1994’s Platinum-selling Creep, and co-writing and producing 1999’s Unpretty.
Today’s news follows Reservoir’s acquisition in early November of a raft of songs from country songwriter Stephony Smith for an undisclosed fee.
That deal included the No.1 and multi-platinum single It’s Your Love by Tim McGraw and Faith Hill.
Reservoir, which floated on the NASDAQ via a merger with a SPAC (special purpose acquisition company) in July, generated total revenues of USD $30.4 million in calendar Q3, an increase of 45% compared to $21 million in the prior year quarter (fiscal Q2 2021).
Reservoir’s Music Publishing revenue in calendar Q3 was $22.1 million, an increase of 26.% year-over-year – growth the firm says was driven by strong performance within its Digital and Sync revenue streams.
“Dallas Austin is a legendary producer with legacy songs.”
Liz Garner, Garner Group Music
“Dallas Austin is a legendary producer with legacy songs,” stated Austin’s catalog manager Liz Garner of Garner Group Music.
“I knew if we were going to find a partner for these hit songs, it would have to be with someone we could build with in the future. Reservoir was the one.”
“We look forward to continuing his music’s legacy.”
Faith Newman, Reservoir
Reservoir EVP, A&R and Catalog Development Faith Newman, added: “Dallas’ catalog is deep with great cuts, and we are so happy to bring some of his fantastic music to Reservoir.
“We look forward to continuing his music’s legacy.”Music Business Worldwide