New York based Reservoir Media has acquired a stake in the publishing catalog of Fred Parris, the writer, lead vocalist and founder of doo-wop group The Five Satins.
Parris is best known as the writer and lead singer of In the Still of the Night.
In the Still of the Night is arguably one of the best known doo-wop songs of all time, also having been recorded by Boyz II Men and Debbie Gibson.
The song was used in the Dirty Dancing film soundtrack, with the soundtrack album having sold more than 33 million copies worldwide to date, as well as its predominant use in the Martin Scorsese film The Irishman and in The Buddy Holly Story.
Today’s news follows the company’s acquisition last month of hit songs by Platinum-selling songwriter and producer Dallas Austin.
Also in November, Reservoir acquired a raft of songs from country songwriter Stephony Smith for an undisclosed fee.
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 – the firm’s fiscal Q2 2022 (the three months ended September 30), an increase of 45% compared to $21 million in the prior year quarter (fiscal Q2 2021).
“I am extremely pleased to make this agreement with Faith Newman and the Reservoir team, and I’m thankful for all their enthusiasm.”
Parris said: “I am extremely pleased to make this agreement with Faith Newman and the Reservoir team, and I’m thankful for all their enthusiasm.
“I know they genuinely care about my work and are avid supporters.”
“Fred and I are extremely happy to have been able to enter into this agreement with Reservoir.”
Marvin Katz, attorney
Marvin Katz, Parris’ attorney, who represented Parris in the deal, added: “Fred and I are extremely happy to have been able to enter into this agreement with Reservoir.
“Representing Fred has been a complete joy for me and the continuance of our great relationship. Thanks to the great Reservoir team for helping to make this happen.”
“We look forward to finding new opportunities for his works and fostering a renewed love for these classics.”
Faith Newman, Reservoir
Faith Newman, Reservoir Executive Vice President of A&R and Catalog Development, said: “Fred Parris helped define the genre of doo-wop, and we’re honored to be a part of maintaining the piece of history he created.
“We look forward to finding new opportunities for his works and fostering a renewed love for these classics.”Music Business Worldwide