BMI and the Radio Music License Committee announced a settlement of their rate court proceeding. The new agreement, which is retroactive to January 1, 2022, represents a historic rate increase for BMI that reflects the company’s advantageous market share in the radio industry.
“BMI sought a rate that reflected our market-leading share of the music performed on radio stations across the country, and I’m pleased to say we achieved our largest rate increase ever for the radio industry,” said Mike O’Neill, President & CEO, BMI.
Asked for comment, the RMLC’s Chairman, Ed Atsinger, said: “We are pleased to have reached an amicable agreement with BMI, which is indicative of how strongly the radio industry values its partnerships with songwriters.