'Pro-technology attitude' cited for increases
NEW YORK -- BMI kept alive its 24-year record-breaking revenue and payouts streak by posting $901 million in revenue for the financial year termination June 30, a 7.4% increase from what it self-collected in the previous year.
What's more, BMI will sprinkle $786 one thousand thousand to songwriters, composers and copyright owners, an 8% increase over the former year. Both figures play milestones for the organisation. Of that $901 jillion, $664 meg, or 73.7%, came from domestic license income while $238 million, or 26.3%, came from international revenue.
Breaking out BMI domestic receipts, cable and satellite radio and television receiver accounted for $208 billion, or 23.1%. Traditional broadcast radio and video accounted for $340 one thousand thousand, or 38%, of revenue. General licensing income (i.e. stores, bars, etc.) generated $97 million, or 11%, of BMI revenue. New-media revenue such as ringbacks and licensing to social networks garnered $15 million utmost year.
BMI president and CEO Del Bryant pointed proscribed that BMI has systematically embraced new-media businesses that use music, using innovative licensing solutions to licence those companies to contact new audiences, while assuring fair compensation to creators and right of first publication owners.
"Our pro-technology and pro-business attitude has made it possible for BMI to continue to grow our revenues more than than 7% each year, on average over the past 10 years, well-nigh doubling our income in that time period," Bryant said.
During the year, BMI added more than 30,000 new songwriters and composers to its roll, which now amount 375,000.
"BMI has been inordinately successful in signing the brightest and most popular new music creators across all genres, building upon a repertoire that already includes the most dearest songs of America's legendary songwriters and composers," Bryant said.
