Skip to main content

BMI Music Royalties Growth Sets New Record

BMI will distribute more than $732 million in royalties for its 2006-2007 fiscal year to the songwriters, composers and copyright owners that it represents -- an eight percent increase over the prior fiscal year.

The rise in revenues is attributed to the company's robust music catalog, successful licensing of music across a diverse range of media, and revenue growth in foreign markets.

BMI also posted record-setting revenues of more than $839 million, up seven percent from the prior year. This milestone represents the highest annual revenues and royalty distributions ever reported by a performing rights society.

The increased usage of BMI's diverse repertoire throughout many broadcast mediums has, over the past several years, recast the traditional revenue structure from one dominated by conventional over-the-air broadcasting to a new picture in which cable networks, satellite audio and video services, and emerging digital media contribute increasingly significant revenue streams.

Revenues from cable, satellite audio and video services grew $11 million, and BMI licensed almost 500 new digital media properties and reached long-term agreements with several major web services.

Revenues from eating-and-drinking establishments, hospitality, retail and service establishments also increased substantially, reaching more than $93 million. BMI's foreign revenue benefited from increased market-share and favorable exchange rates, growing to more than $227 million.

"The dynamic growth and continued popularity of the BMI catalog have made these outstanding financial results possible at a time of unprecedented change in the media and entertainment business," said BMI's President and CEO Del Bryant.

"Our success is a reflection of developing win-win business solutions for both our affiliated songwriters and our customers, enabling us to respond to significant changes in our business environment that are part of the continued transition from the analog world to the digital."

Popular posts from this blog

The $150B Race for AI Dominance

Two years after ChatGPT captured the world's imagination, there's a dichotomy in the enterprise artificial intelligence (AI) market. On one side, technology vendors are making unprecedented investments in AI infrastructure and new feature capabilities. On the other, there's measured adoption from customers who carefully weigh the AI costs and proven use case benefits. Artificial Intelligence Market Development The scale of new investment is significant. Cloud vendors alone were expected to invest over $150 billion in capital expenditures in 2024, with AI infrastructure being the primary driver. This massive bet on AI's future is reflected in the rapid growth of AI server revenue. Looking at just two major players - Dell Technologies and HPE - their combined AI server revenue surged from $1.2 billion in Q4 2023 to $4.4 billion in Q3 2024, highlighting the dramatic expansion. Yet despite these investments, the revenue returns remain relatively modest. The latest TBR resea...