ABU DHABI, United Arab Emirates, Aug 16, 2021 (GLOBE NEWSWIRE) – Abu Dhabi-based independent music company PopArabia announces the launch of ESMAA, a new music rights management (“RME”) based in the United Arab Emirates. United Arab Emirates to facilitate music licensing in the Gulf region. ESMAA is working extensively with global rights holders and regional companies to provide Gulf markets with the ability to license music nationally for the first time.
ESMAA has entered into agreements to represent the rights of global collecting societies, including the UK society PRS for music and SOCAN of Canada, representing more than 30 million musical works and more than 150,000 songwriters, composers and music publishers respectively through these agreements. In addition, ESMAA has signed licensing agreements for the famous UK label Chrysalis Music and Global Master Rights, the neighboring rights company representing the rights of over 300 labels and over 2,500 artists, including Rihanna, Billie Eilish, Imagine Dragons, DJ Snake, Metallica. , Migos and David Guetta, among others.
ESMAA, which translates to “Listen” in Arabic, has also recently become a Client Rights Management Entity of the International Confederation of Societies of Authors and Composers (CISAC). Founded in 1926, CISAC is a global, non-profit organization that protects the rights and advocates for the interests of creators around the world through the largest international network of collective management organizations, comprising 228 member societies in 120 countries / territories . ESMAA’s status as a CISAC Client marks the first and only time that an organization in the Gulf region has benefited from CISAC’s technical tools and solutions for copyright administration. In light of these developments, ESMAA has already started to develop a comprehensive musical repertoire database for the Gulf Territories.
ESMAA Founder and CEO Hussain ‘Spek’ Yoosuf said: “We are very happy that we have already started working with rights holders to get music licenses in the market and meet the needs of regional businesses. who needed a local solution. Having faced the challenges of music rights in this region for many years, I can say with confidence that the work we do at ESMAA represents a historic breakthrough for music licensing in the Gulf.
ESMAA is a subsidiary of Abu Dhabi-based PopArabia, the leading independent music publisher in the Middle East, and a partner of twofour54, Abu Dhabi’s media and entertainment center.
Commenting on the launch of ESMAA, Michael Garin, CEO of twofour54 Abu Dhabi, said: “Enabling content creation in Abu Dhabi and making the emirate a leader in the creative industries is the ultimate goal of twofour54. Through our investment in PopArabia ten years ago, we have supported the local music industry and enabled local artists. As the final stop on this journey, ESMAA will elevate music licensing in the region and place the emirate firmly on the global music scene. “
ESMAA is a subsidiary of Abu Dhabi-based PopArabia, the leading music publisher in the Middle East and a partner of twofour54, Abu Dhabi’s media and entertainment center. ESMAA is a rights management entity that works with global music players to facilitate and provide music licenses in the UAE and throughout the Gulf region.
Founded in 2011, PopArabia is the leading independent music publisher and label in the Middle East. As a sub-publisher of the world’s leading music catalogs including Sony Music Publishing, BMG Rights, Kobalt Music Publishing, Songtrust, Concord Music Publishing and many more, the company accounts for around 60% of the global repertoire market share. . PopArabia is a holding company of twofour54 – Abu Dhabi Media Zone and Reservoir Media, Inc., an independent music company based in New York. In 2020, Reservoir entered into a joint venture with PopArabia to invest in the development of Arab talents in the region.
About the tank
Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir”) is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London and Abu Dhabi. It is the first publicly traded independent music company in the United States and the first woman founded and managed by a woman in the United States. Founded as a family music publisher in 2007, Reservoir has grown to represent over 130,000 tracks dating as far back as 1900 and hundreds of # 1 releases worldwide. Reservoir holds a consistent market share in the U.S. Top 10 according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s A&R Awards, and won the Independent Publisher Award of the year at the Music Week Awards 2020.
Reservoir also represents a multitude of music recorded through Chrysalis Records, Tommy Boy Records and Philly Groove Records and manages artists through its businesses with Blue Raincoat Music and Big Life Management.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the financial condition, results of operations, prospects earnings and outlook for Reservoir. . Forward-looking statements are based on the current expectations and beliefs of Reservoir’s management and are inherently subject to a number of risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions which may cause the actual financial condition, results of operations, earnings and / or prospects to differ materially from those expressed or under – understood by these forward-looking statements. Any statement that makes reference to projections, forecasts or other characterizations of future events or circumstances, including underlying assumptions, are forward-looking statements. In addition, forward-looking statements are generally identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, ” foresee ”,“ project ”,“ continue ”,“ could ”,“ could ”,“ could ”,“ possible ”,“ potential ”,“ foresee ”,“ should ”,“ should ”and other similar words and expressions , but the absence of these words does not mean that a statement is not forward-looking. Risks, uncertainties and / or assumptions include, among others, those discussed and identified in public documents filed with the Securities and Exchange Commission by Reservoir and the following:
- expectations regarding Reservoir’s future financial strategies and performance, including its future business plans or objectives, performance and potential opportunities and competitors, revenues, products, prices, operating expenses, trends market, liquidity, cash flow and use of cash, capital expenditure;
- Reservoir’s ability to invest in growth initiatives and to seek acquisition opportunities;
- the ability to realize the expected benefits of the business combination, which may be affected, among other things, by competition and Reservoir’s ability to grow and manage its growth profitably and to retain its key employees;
- the inability to maintain the listing of the common shares of Reservoir on the Nasdaq Stock Market LLC and the limited liquidity and trading of the securities of Reservoir;
- geopolitical risk and changes in applicable laws or regulations;
- the possibility that Reservoir may be adversely affected by other economic, commercial and / or competitive factors;
- risks related to the organic and inorganic growth of Reservoir’s activity and the schedule of expected commercial milestones;
- the risk that the COVID-19 pandemic, and local, state and federal responses to deal with the COVID-19 pandemic, could have a negative effect on Reservoir’s business operations, as well as on its financial condition and results operating; and
- litigation and regulatory risks, including diversion of management’s time and attention and additional costs and demands on Reservoir resources.
If one or more of these risks or uncertainties materialize or if any of the assumptions made by the management of Reservoir prove to be incorrect, actual results could differ in material respects from those projected in these forward-looking statements.
Except to the extent required by applicable law or regulation, Reservoir assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events. .