BMI Reports Record-Breaking Revenues Of Over $1 Billion
September 10, 2015 at 6:25 AM (PT)
BMI (BROADCAST MUSIC INC.) has announced record-breaking revenue and royalty distributions for its fiscal year ending TUESDAY, JUNE 30th. BMI generated total revenues of $1.013 billion, the highest in the company’s history and the most public performance revenue generated for songwriters, composers, and publishers by any music rights organization in the world. In addition, BMI distributed and administered $877 million to its affiliated songwriters, composers, and music publishers -- a nearly 4.5% increase over last year, and the company’s largest distribution ever.
“These are phenomenal results for BMI and underscore the value we bring to our community of songwriters, composers, and publishers,” said Pres./CEOI MIKE O’NEILL. “They’re even more impressive when you consider the negative impact to our international revenues brought on by the strengthening dollar. We will continue to work hard on behalf of the more than 700,000 affiliates we have the privilege to represent, not only to make sure they can continue to earn a living doing what they love, but also through our ongoing efforts with Congress and the U.S. Department of Justice to rewrite the rules so they make sense for today’s digital world.”
BMI’s digital revenue exceeded $100 million, the first U.S. PRO to achieve this important milestone. Digital revenue increased 65% over last year, which was the largest category increase for the company. Revenue sources included AMAZON, APPLE, NETFLIX, PANDORA, SPOTIFY and YOUTUBE, among many others.
Revenue from all media licensing, including radio, television and cable and satellite entertainment, also saw record levels at $484 million, with cable and satellite entertainment accounting for the largest portion of BMI’s domestic revenue for the second consecutive year.