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Source: Universal Pictures / Jurassic World Rebirth
Just when it seemed like the Jurassic Park franchise might’ve wrapped up after the events of Jurassic World: Dominion, Universal Pictures has decided to revisit the world in which dinosaurs exist in modern times with a sequel to the Jurassic Park series but prequel to the Jurassic World trilogy. Yeah, exactly.
Source: Universal Pictures / Jurassic World Rebirth
According to Variety, Jurassic World: Rebirth is set to stomp into theaters this coming July and will be taking place five years before the events of 2015’s Jurassic World, which starred Chris Pratt and Bryce Dallas Howard. Universal Pictures released the trailer to the Gareth Edwards feature earlier today (Feb. 5) and from the looks of it, it’s going to be one prehistoric ride in modern times.
Starring Scarlett Johanson as covert ops specialist Zora Bennett, the film centers around a team’s mission to secure genetic material from three of the biggest dinosaurs roaming what was once known as Jurassic Park. With hopes of cracking a medical breakthrough to save millions of lives, Bennett leads a team of scientists and others to the abandoned island only to learn that dinosaurs aren’t exactly domesticated and rather, well, territorial.
Needless to say, things go left almost immediately as there’s no actual playbook on how to deal with deadly and carnivorous prehistoric beasts.
Per Variety:
The cast also includes Jonathan Bailey, Rupert Friend, Ed Skrein, Mahershala Ali, Manuel Garcia-Rulfo, Luna Blaise, Philippine Velge, David Iacono, Audrina Miranda and Bechir Sylvain.
Bailey plays paleontologist Dr. Henry Loomis; Ali plays Duncan Kincaid, Zora’s partner; and Friend plays Martin Krebs, a representative for the drug corporation financing the mission. Velge, Sylvain and Skrein are said to play team members reporting to Zora.
We got Blade linking up with Black Widow in the Jurassic Park franchise before we got to see him in a Marvel cinematic movie. What the hell, man?!
Check out the trailer for Jurassic World: Rebirth and let us know if you’ll be checking for the flick when it hits theaters this coming July in the comments section below.
One of the many benefits of the internet is one that 20-somethings likely take for granted: immediate access to song lyrics.
Prior to the advent of Google and Safari, consumers who wanted confirmation of a song’s words generally needed to buy the album – and hope that it contained the lyrics – or pick up the sheet music. A few publications, such as Country Song Roundup or The Tennessean, regularly printed the text to hit songs, but other than that, fans were left to debate if they were hearing things right.
Still, the lyric sites aren’t always spot-on. Songwriters regularly laugh about the misprints of their material, which get passed from site to site, correctly or not.
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One obvious example comes with the new Parmalee single, “Cowgirl,” where lyric sites include this verse-one line: “Drivin’ a Range, but now I wanna giddy hard.”
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Clearly wrong, right? Wrong, it’s right!
“It’s like, ‘giddy up hard,’ man,” says Parmalee lead singer Matt Thomas. “You want to get it, get with it, you know? Like, ‘giddy hard.’ It’s one of those things where it doesn’t make any sense, but it kind of does, if you think about it.”
The thing that stands out most, though, about “Cowgirl” is a hard, syncopated backbeat. It feels like a cousin to the Bo Diddley groove or, as Thomas suggests, the cheerleader rhythms of the 1982 Mickey Basil pop hit “Mickey.” That alone should have programmers paying attention: sports-based riffs formed the foundation of Shania Twain’s “Any Man Of Mine” and “Man! I Feel Like A Woman!”
Despite the Western motif of the “Cowgirl” title, the song’s drumbeat is imported from the United Kingdom, where four songwriters – James Daniel Lewis, Peter David Newman, Robbie Jay and Thomas Frank Ridley Horsley – fashioned the bulk of it before shipping it off to 33 Creative co-owner Tina Crawford, who found it intriguing. She shared the programmed demo with her co-owner, writer-producer David Fanning (“Take My Name,” “Tennessee Orange”), who in turn brought it to Thomas. And they played it for Parmalee on the band’s bus.
“I don’t think there was a bridge in there, but for the most part, it was pretty much there,” recalls the band’s bassist, Barry Knox. “It was a solid, solid idea.”
The group’s other members, drummer Scott Thomas and guitarist Josh McSwain, agreed. Parmalee’s first single, 2012’s “Musta Had a Good Time,” had set expectations for a career built on hard-hitting uptempos, but the group’s biggest successes have leaned toward midtempos and ballads. That includes their last four singles, three of which – the Blanco Brown collaboration “Just the Way,” “Take My Name” and “Gonna Love You” – reached No. 1 on Country Airplay. Matt and Fanning thought the time was right for a song that grooved like “Cowgirl,” if they could fit it to Parmalee.
“We needed something unique and fresh,” Fanning says. “Coming from the U.K. and everything, they’re trying to write towards country music and get into this genre. And they just send us something that we really were like, ‘Hey, that sounds fresh. How do we make this Parmalee?’”
Batting it around for much of May, they changed a few lyrics, made some melodic tweaks and wrote a bridge to generate a change of pace. “We needed something catchy, something fun in there,” Matt says. “We needed something to sing that’s going to be abstract, kind of like the ‘giddy hard’ thing, and we came up with the ‘24-karat palomino.’ I was like, ‘Yeah, man – palomino, golden horse. That’s it.’ Like, everybody’s yell that during the break.”
Matt brought in the “giddy hard” thing, and all told, the song struck a balance between the abstractions and more standard images from mainstream country. “It’s got a lot of clichés in it, too,” Fanning notes. “You’re talking about [trucks] and Levi’s and Bud Light, all the things that are country. But that’s the thing about country music. That stuff never does get old. It’s just, how are you gonna say it differently?”
Halie Welch, the “Hawk Tuah girl,” was recording at the studio across the hall when Fanning produced “Cowgirl” at Nashville’s Sound Stage in early July, building on top of the percussive loop from the original demo, for which Lewis received a co-producing credit. Fanning assembled a small studio band, better enabling them to get through all five of the day’s songs speedily. Parmalee, though, watched from the control room to guide the studio players to performances that captured some of the nuances of the band.
“We’ve been playing together for 25 years, so we call it the Parmalee groove,” Knox says. “It’s more of a laidback kick drum groove, as opposed to a heavy forward[-leaning] punk kick drum. There’s a little more space in the Parmalee groove.”
The band would overdub instrumental parts later to get more of the band’s imprint on the recording, around the time that Matt threw down the final vocal, working the upper part of his register. Knox and McSwain joined him for an intense day of harmonies intended to enhance the light nature of “Cowgirl.”
“We were working in the afternoon, and I was like, ‘Alright, this is the song. We got to have a party,’” Matt recalls. “The idea was to go down to the strip club and have some tequilas, spend a couple hours in there, and then come back to the studio. But that didn’t happen.”
“Plan A didn’t quite work out, but plan B was we were still gonna have a little bit of tequila,” Knox says.The guys chased down harmonies from multiple spots in the studio, creating perhaps 30 or more total voices to fashion a party atmosphere.
“You’re singing eight feet from the mic, two feet from the mic, right on the mic, just going all around the room to try to create that crowdy kind of effect,” Fanning says. And yet, listeners paying close attention will discern an additional voice on the final chorus, a high-harmony enhancement that Matt wasn’t sure he could do until he nailed it.
Parmalee considered several different tracks as the next single, though “Cowgirl” got the nod once Knox broke the ice. “Barry walked on the bus one night,” Matt remembers, “and he’s like, ‘What are we doing? What are we doing? Why are we listening to any of these other songs to be the first single? We’re crazy if we don’t go with “Cowgirl.” ’
As it turned out, the rest of the band agreed. Stoney Creek released “Cowgirl” to country radio via PlayMPE on Jan. 8. It ranks No. 50 on the Country Airplay chart dated Feb. 8 in its fourth week on the list.
Meanwhile, the odd lyric could prove to be one of its most beneficial traits.
“It’ll probably be the one word in the song that people hear and have no idea what it is, and it’s gonna make them Google it,” Knox says. “So I’m like, ‘Put it in there. I’m in.’ That’s kind of our go-to word now. Like, ‘Hey, man, we gonna giddy hard tonight.’”
American jam band Phish will headline Bourbon & Beyond this year, promising fans that their appearance at the Sept. 11-14 festival held annually in Louisville, Ky., and organized by award-winning festival producers Danny Wimmer Presents will be the band’s only festival stop for 2025.
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Joining Phish at the four-day festival held annually at the Highland Festival Grounds at Kentucky Exposition Center are the Alabama Shakes, who are reuniting in 2025 for a Thursday performance at the festival that will also include Thursday headliners The Lumineers and Benson Boone. Friday night headliners include Phish, Khruangbin and Joe Bonamassa, while Sturgill Simpson, performing as Johnny Blue Skies, takes the stage with Jack White and Vance Joy on Saturday. Noah Kahan, Goo Goo Dolls and Megan Moroney close out the festival on Sunday.
Now in its seventh year, Bourbon & Beyond will feature more than 120 artists total performing on five stages, including Cage the Elephant, TV On the Radio, Nathaniel Rateliff & The Night Sweats, Lake Street Dive, Ringo Starr & His All-Starr Band, Foreigner, Third Eye Blind, Pat Benatar & Neil Giraldo, and many more.
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In addition, Bourbon & Beyond includes daily workshops and demonstrations showcasing America’s best chefs and Louisville’s vibrant bourbon and culinary culture on the festival’s workshop stage for The Bourbon Experience and The Culinary Atelier. Hosted by bourbon expert Chris Blandford, chef Amanda Freitag, chef Ed Lee and chef Chris Santos, the festival’s bourbon tastings and culinary workshops pair world-renowned master distillers and some of the country’s top chefs, with some workshops featuring celebrity guest appearances.
“Bourbon & Beyond is the best lineup of the year — bringing together the biggest names in rock, Americana and alt, alongside country icons and breakout artists,” said Wimmer in a statement. “It’s a festival that doesn’t just celebrate one sound, but the best of all of them, paired with world-class bourbon, incredible food and that unmistakable Kentucky vibe. The crowds are huge, the energy is unmatched and every year, we take it up a notch.”
For information on festival passes, visit the Bourbon & Beyond website. All passes include a charity fee for the DWP Foundation, which gives back to local and national charities throughout the year.
See the full lineup below:
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Source: Bernard Smalls / @PhotosByBeanz
DJ Khaled is officially back in album mode. He has announced his newest project Aalam Of God via a star studded trailer.
As per Hype Beast the game’s biggest hype man is back at it. For his 14th album DJ Khaled has upped his promotional trailer game to action film levels. On Tuesday, February 4 he released a visual announcing the LP with he help of Mark Wahlberg and Anthony Ramos. Here we see DJ Khaled as an action star on the run ducking enemies and trying his best to keep his duffle bag which holds the unreleased album.
Wahlberg’s minions do their best but Khaled is able to make it a private jet to escape. He then gets on the phone and tells his contact “do me a favor, send Rihanna the record.” While his acting skills leaves much to be desired, we do learn that Aalam Of God features not one but two records from Drake. In a separate post DJ Khaled gives more context to this newest effort comparing it to JAY-Z’s The Black Album. “This not my last album this my BLACK ALBUM ! My 14 th studio album AALAM OF GOD ! WORLD 🌍 OF G🌎D” the caption read.
Aalam Of God will be released this year. You can watch the trailer below.
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Source: Courtesy / IT IS WHAT IT IS
Cam’ron’s response to LiAngelo Ball’s claim that he’s a better rapper than him? Classic Killa. The Harlem legend isn’t one to let slights slide, especially when it’s coming from someone he feels isn’t quite on his level. On his digital show, It Is What It Is, Cam went in depth, unleashing one of his signature, no-holds-barred clapbacks. He wasn’t holding back, either. “I’m not doing the Tito Jacksons anymore,” he said, referencing the less well-known members of the Jackson family, insinuating that he’s above engaging with someone he sees as a lesser talent.
The shot wasn’t just about LiAngelo’s rap skills—it was about the audacity of a basketball player-turned-rapper coming for the throne. Cam took a moment to get real about what he thought was behind Gelo’s comments, suggesting that the younger Ball might’ve had a few hits to the head from basketball—“I never seen a basketball player/rapper with CTE,” he said, mocking the idea that LiAngelo’s words were coming from anything other than brain trauma. After all, “There is no other way to explain his comments,” according to Cam.
This whole beef started back when Cam made some offhand remarks about LiAngelo and his brothers, Lamelo and Lonzo, which didn’t sit well with Gelo. He clapped back, saying Cam wasn’t even a top 10 rapper, and it’s been on ever since. With Gelo’s recent success in rap, it’s clear that he’s feeling more confident than ever to throw shots at the Harlem icon. But with Cam’s reputation for shut-downs, it’s anyone’s guess how long this back-and-forth will last.
In a few days, Donald Trump will become the first sitting president to attend a Super Bowl — something Travis Kelce thinks is a “great honor,” despite the politician’s history with Taylor Swift.
During a press conference Wednesday (Feb. 5), the Kansas City Chiefs tight end — who will face off against the Philadelphia Eagles at Caesars Superdome with his teammates this weekend — was asked for his thoughts on the White House’s recent announcement that the POTUS will be in attendance. “That’s awesome,” Kelce said. “It’s a great honor.”
“No matter who the president is, I know I’m excited because it’s the biggest game of my life,” he continued. “Having the president there — it’s the best country in the world — and that’s pretty cool.”
Someone who will also be present at the Feb. 9 game will be the New Heights podcaster’s superstar girlfriend, who has famously opposed Trump’s administration for years. A couple months prior to the 2024 presidential election, for example, the “Fortnight” singer endorsed the twice-impeached billionaire’s Democratic opponent, Kamala Harris, and slammed the Trump campaign’s use of artificially generated images that falsely painted Swift as a MAGA supporter.
In response, Trump said the following in a Sept. 11 post on Truth Social: “I was not a Taylor Swift fan. It was just a question of time … She’s a very liberal person, she seems to always endorse a Democrat and she’ll probably pay a price for it in the marketplace.”
Four days later, he wrote, “I HATE TAYLOR SWIFT!”
Months before that, Trump brought up both the 14-time Grammy winner and Kelce in a Truth Social blast. “There’s no way [Swift] could endorse Crooked Joe Biden, the worst and most corrupt President in the History of our Country, and be disloyal to the man who made her so much money,” he wrote in February last year.
“Besides that, I like her boyfriend, Travis,” he added at the time. “Even though he may be a Liberal, and probably can’t stand me!”
Watch Travis Kelce share his thoughts on Donald Trump’s Super Bowl attendance below.
What started out as something Howie Mandel thought would be a funny bit for his Howie Mandel Does Stuff podcast last month quickly devolved into a super-tense, awkward moment the America’s Got Talent host is now expressing regret for. “I want to apologize,” Mandel said on this week’s episode of the pod he hosts with his daughter, Jackelyn Schultz.
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“I feel horrible and I’m sorry, Bill. I’m sorry, Billy. I only tried to do something good,” Mandel added. Mandel noted that he has not heard a “peep” from his longtime friend and fellow comedian Bill Burr since the Jan. 21 episode in which he blindsided him by bringing on Smashing Pumpkins leader Billy Corgan for an episode he called “Family Reunion with Bill Burr & Billy Corgan.”
Back in November, Corgan said he told Mandel that his step mom informed him years ago that Burr “might be” one of the children that Corgan’s late father “sired in his days being a traveling musician.” Corgan also recalled that his dad once mentioned that he had a half-brother who was close to his age named Bill; Corgan is 57, Burr is 56.
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As soon as Corgan came out to join the pod, Burr was immediately on edge, which the rocker sensed, saying, “he didn’t tell you? He told me you were totally cool with me coming.” Clearly peeved at Mandel, Burr hissed, “that’s what he does.” Sensing the awkwardness, Corgan offered to leave, but Burr said it was fine, going on to refer to his dad as a “piece of s–t with two kids this close together [and] he named them the same f–king name.”
Burr then said he appreciated Corgan’s music, but that he would “prefer if you just kind of… not [tell] these f–king stories.” The tension continued to mount as Corgan explained that Mandel made it seem as if Burr would be okay with repeating the story he’d originally told Howie in private and then having the men meet on-air.
“He always does that. Because that’s the thing,” Burr said angrily of the comedian he’d earlier praised as one of his inspirations and a longtime friend. “He’s bringing it here, not because he’s trying to heal the bulls–t that we went through growing up. He’s getting here just for the f–king ratings.”
Mandel eventually left the room and the Bills traded stories about the man they both described as their dad as Burr continued to mock Mandel’s IMDb credits mercilessly. “At least we’re not on some f–king awful network show judging plate spinners or whatever the f–k Howie’s career has become,” Burr said of Mandel’s gig co-hosting AGT.
Burr — whose beloved stand-up act is often filled with his irate annoyance, and rage, about what he thinks is the idiotic, inexplicable behavior of others — eventually told Mandel that he still loved him, “even though you did this,” wondering what his friend expected to happen. “Are we going to play catch? We’re both in our 50s,” Burr seethed, with both bald performers agreeing on one thing: that Mandel (also famously bald) is “a d–k.”
Once Corgan had assured him that it was all Mandel’s idea, Burr admitted he was not upset with the Pumpkins singer/guitarist and that he just didn’t like that their first meeting was the result of subterfuge. The two then had a funny exchange about possibly hanging out after the taping, with Burr immediately taking a dig at Corgan’s vegan diet after Corgan said he assumed Burr was a meat-eater. “I can have a cup of coffee while you eat your f–king Brussels sprouts,” Burr spat.
On this week’s pod, Mandel said he texted Burr to congratulate him on a good episode, but has not heard back from his friend since. “The next thing I see is… headlines,” Mandel said while posting a series of news reports about Burr’s anger over the incident. Burr went on the Rich Eisen pod shortly after and referred to Mandel as a “Hollywood whore” for the stunt. “I legitimately thought I was doing something nice, I swear to you,” Mandel said this week. “I thought it was funny.”
Watch Mandel’s mea culpa and a snippet of the original podcast below.
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Trayvon Martin would be 30 years old today if not for the meddling of volunteer night watchman George Zimmerman. While sobering thoughts hang over the heads of many regarding the loss of Trayvon Martin, many are choosing to use this time to hold up his lasting memory.
Instead of writing my usual report regarding Trayvon Martin, I’m electing to speak as myself and completely from the heart. Martin’s death hit me particularly hard because I, like many Black men who grew up in the inner city, know full well what being Black in America means and how potentially dangerous it has largely always been.
When I was writing for NewsOne, I traveled to Sanford, the Florida town where young Trayvon was gunned down by Zimmerman. I spoke with town leaders and with Martin’s parents, trying to make sense of the pain while also doing my duty as a reporter. I can say with measurable confidence that it was one of the hardest things I’ve ever had to do. And yet, I was struck by the resilience of Sybrina Fulton and Tracy Martin, no longer romantically involved but unified in honor of their son.
Martin’s death was one of the many catalysts for the Black Lives Matter (BLM) movement, which launched in earnest a year after Martin’s 2012 passing. Of course, several observers have their thoughts about BLM, some favorable and others unsavory, but the significance of that period will never be forgotten.
I’m just a writer. I’m not an activist nor do I know what to do in times like this beyond sharing my undying devotion to the elevation of my people and that those who have been killed unjustly are never a footnote but instead an inspiration.
If we can honor Trayvon Martin in one unifying way, it would be to keep his name alive and never let those in power forget that Black bodies are not targets. Black people are not automatic threats. Black people deserve to live on the same terms and with the same grace as all people should.
And with that, I pledge to live out loud for Trayon. May he rest powerfully in peace.
Keep scrolling to see thoughts from X, formerly Twitter.
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Photo: Getty
La Original Banda El Limón de Salvador Lizárraga, one of the longest-running Sinaloan bands in the genre, is celebrating its 60th anniversary and is preparing to celebrate throughout 2025.
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“I am happy to announce that Alex Lora, frontman of El Tri, has joined our celebration with one of his songs, “La Raza Más Chida,” which we will unveil in due time,” reveals Juan Lizárraga, grandson of the group’s founder and current music producer, in an interview with Billboard Español. “There are several guests for duets that we will be announcing in the near future.
“We would like to include some of the vocalists who have been in the band, like Julio Preciado,” continues Lizárraga, referring to the first official singer not only of La Original Banda El Limón but of any banda music of its kind.
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La Original Banda El Limón was formed in 1965 in a small town in Sinaloa called El Limón de los Peraza, from which it took its name. Following in the footsteps of its predecessor, Banda El Recodo de Don Cruz Lizárraga, it began as a wind band and, already with a defined style and an earned reputation, served as accompaniment for great stars such as Lola Beltrán, José Alfredo Jiménez and Antonio Aguilar. In 1990 they released their first album, Puro Mazatlán, with which they innovated by putting their own vocalist in a Sinaloa band for the first time.
Since then, the band has released more than 50 albums, 10 of which have appeared on Billboard‘s Top Latin Albums chart and seven on the Regional Mexican Albums chart. The group has also placed 33 songs in Regional Mexican Airplay, reaching No. 1 with “Al Menos” (2010) and “Di Que Regresarás” (2011), among other achievements. Banda El Limón has received multiple awards such as Latin Grammys for best banda album, twice, for Soy Tu Maestro (2010) and La Original y Sus Boleros De Amor (2013), as well as the Billboard Mexican Music Award for Excellence in Regional Mexican Music in 2012.
On Jan. 29, the group received recognition from the Promotores Unidos USA association in Las Vegas, kicking off his anniversary celebrations.
Today, Don Salvador Lizarraga’s grandchildren, who call him papá, carry on his legacy since his passing in 2021. One of them, producer Juan Lizárraga, talks with Billboard Español about their accomplishments, their upcoming plans and the possibility of one day seeing La Original play alongside music peers like Banda El Recodo and La Arrolladora Banda El Limón.
How great is the responsibility to remain relevant after six decades?
I would start by saying that I am very excited. Time goes by very fast; ten years ago we were celebrating our 50th anniversary with a huge concert at the Zócalo in Mexico City, something that marked our history. The legacy of my papá Salvador is something that must be dignified, something that we must work hard on. My brother Carlos, my brother Andrey, Francisco and I learned from him as a professional, but also as the great gentleman he was. This celebration is a dream come true for my dad, even though he is no longer here, and for us who are carrying on his legacy.
Characters like Don Cruz Lizárraga (from Banda El Recodo) and Don Salvador Lizárraga built a very important part in the history of regional Mexican music. Did your father realize that?
My dad used to tell us that he couldn’t imagine what was going to happen to his band. At the time, the only thing he thought about was bringing home the bread. People like him and Don Cruz Lizárraga loved music and in it they found their family’s livelihood. They were not looking for success; they just enjoyed what they did. It has been a great journey in which many characters have left their lives to achieve that the bands are positioned as an important part of Mexican culture.
What is it that keeps Sinaloa’s bands alive?
There are songs that are 30 years old and are still hits. That is what makes a group great, that makes the difference. It is with music that we really transcend and remain relevant. As long as there are singers and musicians who love the band, it will never stop and will continue to be strong. Banda El Recodo and La Original Banda El Limón are recognized for their longevity, but we cannot overlook what Banda MS has done. In twenty years, they have achieved what it took others twice as long. La Arrolladora also had its golden age. Banda Los Recoditos too. In short, there are many that continue to dignify regional Mexican music.
Fashions come and go, but what is well cemented continues. It is like when a hurricane passes and does not knock down a palm tree; it will shake it, it will bend it, but it is well planted and will not knock it down. Banda sinaloense music already has a hard-earned place.
What do you have planned to celebrate these 60 years?
I am happy to announce that Alex Lora, frontman of El Tri, has joined our celebration with one of his songs, which we will unveil in due time. He is delighted with how the arrangements turned out because we took care of the two essences, we achieved a point of balance. At the end of the day, we are enhancing Mexican music. We are focused on making collaborations with artists that are joining us. It’s not about doing songs by La Original Banda El Limón; we did that not too long ago. We want the guest to choose the song, and most importantly, we want them to enjoy banda music. As for a party, we also have it in mind and we are working on it.
Throughout your history you have had some great collaborations, is there one you remember in particular?
Fortunately there are several, with very important artists like Jenni Rivera, Juanes and Becky G, but one that was definitely a big challenge was to be part of the tribute to Caifanes with “No Dejes Que.” Making it sound good with a band and making them like it was not easy, but they were very satisfied. All those moments make us feel happy and proud of our genre.
Will there be a time when we can see something together with Banda El Recodo and La Arrolladora?
With whoever, we are open. I believe that all our colleagues should have the idea of making our music continue to transcend, to make a team. I believe that there are no egos or envy, what we have are matters of negotiation. My dad used to say and he said it well: “Credits are not earned on a piece of paper or in an advertisement, they are earned on stage.” At least for La Original Banda El Limón, opening or closing is the least of it. We are very happy that Banda El Recodo and La Arrolladora are touring together. We wish that could be extended. There are many things that can be achieved if we all come together, to make a great team so that we can bring a strong musical history to the people.
Bolstered by both organic growth and additions to its repertoire, Reservoir Media posted strong gains in its latest fiscal quarter and raised its guidance for fiscal year revenue and earnings.
Revenue increased 19% to $42 million in its fiscal third quarter ended Dec. 31, the company announced Wednesday. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a commonly used measure of profitability, climbed 26% to $17.3 million.
During Wednesday’s earnings call, CEO Golnar Khosrowshahi cited the company’s repertoire, its ability to capture demand for its music for the 16% improvement in music publishing revenues and the 20% jump in recorded music revenues. In addition, Khosrowshahi attributed the company’s “commitment to cost containment and closely managed business operations” to the improvement in adjusted EBITDA.
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In the publishing division, price increases at streaming services helped digital revenues grow 20% to $16.7 million while mechanical royalties jumped 143% to $900,000 on the strength of physical sales of existing catalog. Performance and sync revenues improved just 2% and 3%, respectively. In the recorded music division, digital revenue grew 24% to $8.1 million, physical sales rose 18% to $2 million and sync royalties jumped 23% to $1 million. Neighboring rights revenue fell 7% to $900,000. The quarter was helped by an unspecific royalty recovery from a routine audit, said CFO Jim Heindlmeyer.
Reservoir Media has spent over $70 million on catalog acquisitions in the first three quarters of its fiscal year. Those deals include the acquisition of the catalog of South African composer Lebo Morake and the producer royalties of Jack Douglas (Aerosmith, Cheap Trick).
“The pipeline remains robust, and we continue to be excited about the opportunities that are before us, we continue to have that populated with more off market deals, and that’s a strategy that we’ve been able to execute on successfully for many years now,” said Khosrowshahi.
The company also signed a publishing deal with k.d. lang and extended its deal with songwriter Serban Cazan (“Mantra” by Jennie).
After exceeding internal expectations in the quarter, Reservoir Media raised its full-year guidance. The company now expects revenue to be $155 million to $158 million, an increase of $5 million from the previous quarter’s guidance. Adjusted EBITDA to fall within $61.5 million and $64.5 million, a $2.5 million increase.
Shares of Reservoir Media responded by climbing as high as $8.85, up nearly 9%, in early Wednesday trading before settling at $8.30, up 2.1%, by midday.