BMI announced record revenues of $931 million during the fiscal year ended June 30, up from $917 million the previous year.
The performance rights org collected distributable royalties of $796 million for its represented songwriters, composers and copyright holders. That’s a small uptick from last year’s royalty tally of $789 million.
BMI prexy-CEO Del Bryant attributed more than 20 years of year-over-year growth to “our core offering: the blanket license. Securing unlimited public-performance rights to BMI’s entire repertoire of more than 6.5 million works with one stable agreement is as valuable for new-media companies such as YouTube and Spotify as it is for our radio, television, cable network and general licensees.”
Some of the upswing was attributed to global hits by acts like Lady Gaga, the Black Eyed Peas, Taylor Swift and Rihanna; breakout success by developing stars like Adele and Nicki Minaj; and country acts like the Band Perry, Easton Corbin and Jason Aldean.
BMI reps more than 500,000 writers and publishers and serves more than 650,000 licensed businesses.