Reservoir Media has struck what it calls “a multifaceted deal” with independent record label Fool’s Gold Records.
The deal sees Reservoir acquire the catalog master rights of the label’s artists A-Trak, Danny Brown, Grande Marshall, The Brothers Macklovitch, and Low Pros.
Reservoir will also exclusively market and distribute all other recordings on Fool’s Gold, including future releases, via the Reservoir label platform.
This deal, which was facilitated by Fool’s Gold Chief Financial Officer Jorge Mejias, label manager Nathaniel Heller, and A-Trak’s management team at TMWRK, sees Fool’s Gold join Reservoir’s recorded music division alongside “cornerstone” independent labels Chrysalis Records, Tommy Boy Music, and the newly acquired New State, among others.
Reservoir acquired Tommy Boy Music in 2021 in a deal valued at approximately $100 million. In February, the company acquired UK dance and electronic label New State, and the label’s entire recorded music catalog of over 13,000 tracks.
Reservoir acquired the Chrysalis Records catalog for an undisclosed fee in 2019.
Fool’s Gold will be marketed and distributed through Reservoir’s label platform.
As part of the deal, Reservoir will also now distribute A-Trak & Friends, a new sub-label of Fool’s Gold featuring music by A-Trak and several other artists.
The first release off A-Track & Friends was Reaching by James Juke feat. LION BABE, which was released last month.
Commenting on the deal, A-Trak said: “I’ve been thoroughly impressed by Reservoir ever since the first time we all spoke. Everyone at the company has a deep passion for quality music.
“A big part of what’s helped Fool’s Gold navigate 18 years in the music biz is staying very nimble and malleable. Reservoir was able to craft a creative deal with us that showed real agility — that’s exactly what we were looking for in a new partner.”
“We’re proud to welcome A-Trak, Fool’s Gold, and its artists into the Reservoir family as we continue to champion culturally significant independent music.”
Rell Lafargue, Reservoir
Reservoir President and Chief Operating Officer Rell Lafargue added: “As both founder and artist, A-Trak has built Fool’s Gold into a genre-blurring label that has been at the forefront of hip-hop, house, and everything in between for nearly two decades.
“We’re proud to welcome A-Trak, Fool’s Gold, and its artists into the Reservoir family as we continue to champion culturally significant independent music.
“This multifaceted deal also highlights Reservoir’s ongoing expansion in recorded music and our team’s ability to deliver across the full spectrum of the music business.”
Brooklyn-based Fool’s Gold was founded in 2007 by DJs A-Trak (Alain Macklovitch), Nick Catchdubs (Nick Barat), musician Dave 1 (David Macklovitch), and the late Dust La Rock (Joshua Prince).
The label saw early success from releases by Kid Cudi, Kid Sister, Flosstradamus, Danny Brown (with songs including Grown Up and 25 Bucks), as well as A-Trak’s own music.
In 2010, his duo Duck Sauce released viral hit single Barbra Streisand, which reached No.3 in the UK and No.1 on Billboard’s Dance Club Songs chart, and earned a Grammy nomination for Best Dance Recording.
The song was later included on Duck Sauce’s 2014 Top 10 Billboard Dance/Electronic album, Quack, which Reservoir now distributes.
A-Trak also earned success as a solo artist with his remix of the Yeah Yeah Yeahs’ Heads Will Roll and singles including Ray Ban Vision, Believe, DJ’s Gotta Dance More, and My Own Way. The Fool’s Gold catalog also includes releases by Treasure Fingers, Hoodboi, Tommy Trash, Falcons, G-Worthy, Malaa, and Michael Christmas.
Reservoir spent over $115 million on acquisitions and advances in its latest fiscal year, while its annual revenues jumped 10% YoY to $158.7 million.Music Business Worldwide
