reservoir Media has reached a new deal with Rock and Roll and Grammy Hall of Fame inductee Dion Francis DiMucci, known professionally as Dion.
The company says that the deal includes Dion’s entire publishing portfolio and future works, as well as synchronization rights to his master recordings.
Dion has released more than 40 albums and has 39 Top 40 songs, as well as 11 Top 10 songs billboards Hot 100 hits.
News of Reservoir’s deal with Dion comes two months after the company published its Q2 2023 (calendar 3rd quarter) financial results for the three months to the end of September, during which it generated $33.3 million, go up 10% annually.
In the calendar quarter of 2022, Reservoir purchased assets – for an undisclosed amount – including Portfolio publishing of swing icon Louis Prima, plus Lebanese music label and publisher, Voice of Beirut (together with PopArabia). US-based company says it’s aiming to spend 100 million USD on “Strategic M&A” for the full fiscal year 2023.
Speaking on an earnings call in November, Reservoir’s founder and CEO, Golnar Khosrowshahi told analysts that her company is “satisfied with the quality and quantity of deals we have done over the past few months as we continue to make progress against our capital deployment goal.” I am 100 million USD for strategic M&A in fiscal year 2023″.
reservoir Media’s current financial year runs until the end of March 2023. Company spent 224 million dollars on the acquisition of music rights in the previous financial year (to the end of March 2022).
Born in the Bronx, Dion blends doo-wop, pop, rock, R&B, folk and blues, and, according to Reservoir, helped “open up the American era of rock and roll”.
He was inducted into the Rock and Roll Hall of Fame in 1989 and the Grammy Hall of Fame in 2002.
Dion first rose to fame as the lead singer of Dion and the Belmonts, before pursuing a solo career.
His popularity skyrocketed in the 1950s and 1960s, with hit songs like run away from lawsuits, The Tramp, Ruby Baby, Dream’s lover and more.
run away from lawsuits reached #1 on the Hot 100 and helped Dion earn his spot in the Grammy Hall of Fame. Vagrants reached #2 on the Hot 100.
Both run away from lawsuits and Vagrants has been ranked as two of Rolling stone 500 Greatest Songs Of All Time.
Dion continues to release new music and tour today. His 2006 release, Blue Bronxearned him his second Grammy nomination.
In 2021 he releases his album, stomping the groundfeatures rock and roll icons like Eric Clapton, Peter Frampton, Bruce Springsteen, Mark Knopfler and others.
Besides, Vagrantsa musical based on Dion’s life and the challenges he overcame, had a pre-Broadway performance at the Paper Mill Playhouse in April 2022.
“I am delighted to be involved in this wonderful new relationship with Reservoir. I know how much the Reservoir team values my work and I am looking forward to the exciting times to come with them.”
diion
Regarding the new agreement, Dion said: “I am delighted to be entering into this wonderful new relationship with Reservoir. I know how much the Reservoir team values my work and I’m looking forward to some exciting times to come with them.
“I want to thank the entire Reservoir team for helping to make that happen, especially Rell Lafargue, Jonathan Sturges and Faith Newman. I would also like to thank Marvin Katz, my attorney, who introduced me to Reservoir and represented me in the transaction.”
“Dion was a mainstay of early rock and roll, writing and recording songs that were loved and recognized globally.”
Newman Trust, Reservoir
Faith Newman, Executive Vice President of A&R and Catalog Development, Reservoir, said: “Dion was a mainstay of early rock and roll, and wrote and recorded songs that were loved and recognized. globally.”
She added: “He continues to make music and inspires the biggest names in the genre today. It’s an honor to support both his evergreen catalog and future hits.Global Music Business
