Reservoir Acquires Chrysalis Records Catalog, Blue Raincoat Music

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Sinead O'Connor performs onstage at Glastonbury in 1990. 

The publisher is now a full-service music company, bringing recordings by Sinead O’Connor, The Specials, Generation X and more under its umbrella.

Reservoir, best known for its publishing company, has acquired U.K.-based music company Blue Raincoat Music and its subsidiary Chrysalis Records, it was announced Thursday (Aug. 29). 

The deal includes master rights to the entire Chrysalis Records catalog, which includes such hit songs as Sinead O’Connor’s “Nothing Compares 2 U” and Generation X’s “Dancing With Myself.”  

“Reservoir is committed to being a full-service music company, bringing the highest-quality and most diversified offerings to our growing roster of songwriters and artists,” said Reservoir founder and CEO Golnar Khosrowshahi in a statement. “From the first meeting with Robin and Jeremy, it was evident that we had found the right partners to expand into the independent label business.”

The London-based Blue Raincoat Music was started by former Chrysalis CEO Jeremy Lascelles and record producer Robin Millar in 2014. The company is home to a standalone record label that houses the Chrysalis catalog, which consists of over 20,000 recordings, including songs from Everything But the Girl, Debbie Harry, Lucinda Williams, Suzi Quatro, The Specials and The Waterboys, among many others.

Lascelles and Millar will continue overseeing Chrysalis Records and Blue Raincoat’s day-to-day business operations, though Music Business Worldwide reports that Chrysalis co-founder Chris Wright has departed his role as director of the company in the wake of the Reservoir deal. Blue Raincoat’s management and publishing arms will continue operating as separate entities and will not be affected by the deal.

“We are very excited to explore ways in which both companies can benefit from each other’s skills, knowledge, and experience,” said Lascelles, “and we believe this is a fantastic opportunity for Blue Raincoat, Chrysalis Records, and Reservoir as we collectively look to harness the growth in the music business, take advantage of our shared expertise, and forge ahead with a comprehensive offering for our joint roster of artists and songwriters.”

Millar noted that Blue Raincoat’s distribution deal with Kobalt/AWAL will remain in place, adding “we will look to reignite that relationship with our new partners in Reservoir.”

In a statement, Reservoir president and COO Rell Lafargue noted that the company has already secured a number of synchs for Blue Raincoat’s catalog with Fidelity Investments, Lionsgate’s Rob Zombie horror film 3 From Hell and FX’s Pose.

“Our dedicated YouTube team has ingested the Chrysalis catalog and will work with the Chrysalis marketing team to build and improve on the revenues realized in this area,” Lafargue continued. “As we manage this integration process, we will all look to take advantage of the diverse expertise that each company brings to the table to enhance value for all of our talent, songwriters and artists alike.”

Reservoir was founded in 2007 and now represents over 110,000 copyrights and 26,000 master recordings. The publisher finished in eighth place in Billboard’s most recent Publisher’s Quarterly, with a 1.96% market share of Hot 100 songs in the second quarter.


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