BMI Reports Third Straight Revenue Record

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BMI brought in $1.13 billion in its 2017 fiscal year, and — for the first time — distributed more than $1 billion in royalties. The $1.023 billion that went out to songwriters, composers, and publishers was up 10 percent from last years’s figure, and, the organization said, marks “the most public performance revenue and highest royalty distribution of any music rights organization in the world.”

BMI President/CEO Mike O’Neill said, “No matter how much the industry continues to evolve, BMI remains the leader in supporting songwriters, composers, and publishers and maximizing their royalties across all platforms. We are thrilled to have been able to achieve these record distributions, but we still believe our affiliates deserve more. We thank them for entrusting their music to us and will continue to work hard on their behalf to secure the full and fair value of their creative work.”

BMI’s total domestic revenue, including digital, media, and general licensing, was $836 million in fiscal 2017, up by $52 million (7 percent) from last year. Digital was up 7 percent, to $163 million, helped by new long-term agreements with Netflix and Hulu, among others.

O’Neill said, “While the administration of direct digital deals is relatively new, we’re seeing the benefits across the board. BMI generates new business, our publishers benefit from our distribution expertise, and our affiliates continue to receive their royalties from a trusted source.”

Media licensing brought in $524 million for BMI, up $32 million from fiscal 2016, while general licensing, covering businesses like restaurants, hotels, and bars, among others, grew 7 percent, to $149 million. International revenue came in at $294 million, up 7 percent year-over-year.

BMI also reported that it processed nearly 1.4 trillion audio and audiovisual performances this year — nearly 1.35 billion of them digital. The total performances processed was up 40 percent from last year.

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