Performing rights organization BMI announced another record-breaking year of financial results. During its fiscal year ending June 30, the group increased revenue 7% to reach $1.283 billion. Of that total, $1.196 billion was distributed to songwriters, publishers, and composers. The distributions also rose 7% on-year to a new record total. BMI also noted that its annual results marked the most reported public performance revenue and highest royalty distributions of any music rights organization in the world.
“BMI values the trust our affiliates place in us, and we are gratified to once again generate record revenues on their behalf,” BMI CEO and President Mike O’Neill said. “Our achievements are a direct result of the unrivaled creativity of the songwriters and composers we represent and the worldwide popularity of their music. We always strive to do better, and we will continue to work hard to champion the rights of our creators and protect the value of their copyrights.”