$905 Million In Revs For BMI
August 27, 2009 at 4:39 AM (PT)
BMI has earned more than $905 million in revenues for its 2009 fiscal year, including its subsidiary LANDMARK DIGITAL SERVICES. The company also announced that it increased royalty distributions to more than $788 million for the songwriters, composers and copyright owners it represents.
Despite one of the most difficult economic environments in BMI’s history, the company cites several factors leading to their achievements over the past year:
* BMI experienced it's best-ever year in international revenues, thanks to global hits from songwriter/artists including LADY GAGA, COLBIE CAILLAT, TAYLOR SWIFT, PINK, WILL.I.AM and tHE BLACK EYED PEAS, KID ROCK, KINGS OF LEON, PITBULL, SHINEDOWN and Latin superstars JUANES and SHAKIRA, among others.
* BMI completed the integration of LANDMARK DIGITAL SERVICES’ radio performance data into its radio survey.
* BMI launched a complete redesign of its website, BMI.COM, with enhanced transaction tools for musical creators, music publishers and licensees alike.
* BMI claims it has significantly increased the scope and pace of its talent development activities, sponsoring and promoting more than 200 showcases, professional seminars and panels to support the careers of emerging songwriter/artists.
* BMI alco cited its continued long-term focus on revenue diversity, which provided stability to the company’s results despite the challenges presented by the economy. Revenue from non-broadcast media such as cable, satellite and digital media continue to increase its share of BMI’s total, joining general licensing as key growth areas.