Here’s a breakdown of the provided text,focusing on the key data:
Main Event:
Lightroom has secured new investment from Reservoir Media. Reservoir Media is described as an “eminent independent music company.”
Key Players:
Lightroom: A company creating immersive entertainment experiences, currently in five cities and planning to expand to 12. They focus on IP (Intellectual Property) to build their shows.
Reservoir Media: An independent music company that has been actively acquiring music catalogs and labels.
Golnar Khosrowshahi: Founder and CEO of Reservoir Media.
Richard Slaney: Manager of Lightroom.
Reservoir Media’s Motivation for Investment:
They see “significant opportunities in this high growth vertical” (immersive entertainment).
The investment will allow them to “improve the value of our musical assets, capitalizing on significant moments, and also our musical catalog with persistent leafy, to create shows anchored in the IP.”
They believe Lightroom’s model for “lasting, reproducible and evolutionary immersive experiences” aligns with their values.
Lightroom’s Offerings:
Immersive experiences built around IP.
Examples of their shows include:
The Moonwalkers: a trip with Tom Hanks (Apollo missions)
Vogue: invent the track (history of fashion track, developed with anna Wintour)
Prehistoric planet: discover dinosaurs (with a score by Hans Zimmer)
They plan to “accelerate content production, international failure and become the world leader in immersive entertainment led by IP.”
They have a partnership with Culturespaces to present shows across their European network.Reservoir Media’s Recent activity:
Acquired Tommy Boy Music for ~$100 million.
Acquired British dance and electronic label New State. Acquired the Chrysalis Records catalog.
Spent over $115 million in acquisitions and advances in their last financial year.
Their annual income increased by 10% to $158.7 million.
They have access to industry investments in Warner Music Group, Deezer, and Dazn.
Recently concluded a “multiple facets agreement” with Fool’s Gold Records.
Key Quotes:
Golnar Khosrowshahi (Reservoir Media): “We see significant opportunities in this high -growing vertical, and this investment is an opportunity to improve the value of our musical assets, capitalizing on significant moments, and also our persistent leaf musical catalog, to create shows rooted in IP.”
Golnar Khosrowshahi (Reservoir Media): “Richard and the Lightroom team have established a new standard with their extraordinary narration and their proven model for lasting,reproducible and evolutionary immersive experiences that align strongly with our values around creative integrity.”
* Richard Slaney (Lightroom): “We are delighted to welcome the reservoir media in our vast group of investors.”
In essence, this article announces a strategic investment by Reservoir Media into Lightroom, a company specializing in IP-driven immersive entertainment.Reservoir sees this as a way to leverage its music assets and expand into a growing market, while Lightroom gains a significant investor to fuel its expansion and content production.