Reservoir Media (RSVR, Financial) has unveiled its new subsidiary, PopIndia, headquartered in Mumbai, marking a strategic expansion into the Indian music market. PopIndia is a full-service music company aimed at nurturing regional talent and acquiring music catalogs spanning publishing and recorded music. Its inaugural publishing agreement is with Yohani, a prominent singer, songwriter, rapper, and YouTube sensation.
The establishment of PopIndia extends Reservoir's presence in emerging markets, building on its experience with the subsidiary PopArabia. This move underscores Reservoir's dedication to fostering local talent across India and the MENA region. Spek, Reservoir's Executive Vice President of International and Emerging Markets, will supervise the new venture, while Ray Ahmed, formerly in charge of Business Development at PopArabia, has been elevated to Head of Operations for PopIndia.
PopIndia stands as Reservoir’s seventh global office and will manage relationships with notable Indian artists, including rapper DIVINE and Gully Gang Entertainment. Besides signing new talent, the company acts as a sub-publisher for global music catalogs within the Indian and South Asian regions and offers music supervision and rights management solutions for regional music clients.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Reservoir Media Inc (RSVR, Financial) is $13.50 with a high estimate of $15.00 and a low estimate of $12.50. The average target implies an upside of 91.49% from the current price of $7.05. More detailed estimate data can be found on the Reservoir Media Inc (RSVR) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Reservoir Media Inc's (RSVR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
