BMI posts record revenue and distribution for 2018-19

By Emmanuel Legrand

US music rights society Broadcast Music, Inc. (BMI) has registered record collections in the fiscal year ending June 30, with revenues up $78 million or 7% over the previous year at $1.283bn. Distributions to songwriters, composers and music publishers also reached an all time high at $1.196bn, up 7% year-on-year, with an admin rate of 10%. According to BMI, these results "mark the most reported public performance revenues and highest royalty distributions of any music rights organisation in the world."

  Distributions included domestic and international royalties, as well as royalties from direct deals that BMI administers on behalf of its publishers. The latter grew $9m to $62m, and represented 5% of BMI’s total distributions.

  BMI’s total domestic revenue, encompassing digital, media and general licensing, reached $943m, a 7% increase over the previous year.

  BMI's digital revenues grew 22% to $262m, and are now the second biggest contributor to BMI's income at 28% of the total. The year was marked by new licensing deals with the growing video-on-demand streaming market, such as Twitch and Amazon Channels, as well as new licensees in the eFitness market, such as Peloton and Flywheel.

Champion the rights

  Revenues from general licensing, for music played in bars and restaurants, hotels and other businesses, reached the record sum of $169 million, up 8% year-to-year, and representing 18% of BMI’s domestic revenue pie. The company said it added some 16,500 new businesses to its portfolio in this sector.

  Revenue from cable and satellite accounted for 30% of total revenues, while traditional radio and television made for 24% of the domestic total. BMI’s international revenue also reached an all-time high of $340 million, up 7% over the previous year.

  “BMI values the trust our affiliates place in us, and we are gratified to once again generate record revenues on their behalf," said BMI President & CEO Mike O’Neill. "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.”