Performing rights organization BMI has reported record-breaking revenue, securing $1.199 billion during the fiscal year ending June 30. The group administered $1.118 billion in royalties to its songwriters, composers and publishers, another record high and a 9% increase from the prior year’s total. Digital revenue was $215 million, up 32%, thanks to arrangements with major players such as Amazon, Apple Music, YouTube, SoundCloud, and Spotify. Direct deals administered on behalf of publishers are a relatively new business for BMI, but with $53 million, this type of distribution now accounts for about 5% of BMI’s total.
“Thanks to the incredible creativity of our songwriters, composers and publishers, BMI was once again able to generate record revenue and distributions on their behalf,” BMI President and CEO Mike O’Neill said. “While we are proud of achieving these results, we will always strive to do better. BMI will continue to advocate for our affiliates, ensuring that all songwriters and composers can continue to earn a living creating the music that is loved all over the world.”