Tag Archives: record breaking

BMI Reports Record-Breaking Revenues and Distribution

Music rights management company Broadcast Music Inc. (BMI) announced record-breaking revenue and royalty distributions for the fiscal year that ended June 30. The organization’s total revenue was $1.013 billion, more than any other music rights organization worldwide. In turn, BMI distributed and administered $877 million to affiliated songwriters, composers, and music publishers, marking a 4.5% increase over the previous year. Revenue sources included Amazon, Apple, Netflix, Pandora, Spotify and YouTube, among many others. International revenues accounted for $292 million, despite significant economic challenges overseas.

In a press release, the company pointed out that its historic revenue performance came in the same year the company prevailed in a groundbreaking rate-setting case against Pandora, following a nearly two-year legal battle. The decision established that publisher marketplace agreements can be taken into account as benchmarks when determining rates, an important step forward in valuing music today.

Grateful for Well-Funded Retirement

The Grateful Dead’s Fare Thee Well retirement tour broke records both in concert attendance at live events and pay per view sales, possibly making it the most successful event in music history. The “full” reunion shows, billed as the last to feature Local 6 (San Francisco, CA) members Mickey Hart, Phil Lesh, Bob Weir, and Bill Kreutzmann together, were held June 27-28 at Levi Stadium in Santa Clara, California, and July 3-5 at Soldier Field in Chicago, Illinois.

The West Coast shows grossed $21.5 million from attendance of 151,650 fans, while Chicago concerts brought in $30.7 million from 210,283 attendees, for a grand total of $52.2 million. The pay per view broadcast of Fare Thee Well: Celebrating 50 Years of Grateful Dead was the biggest such event of all time, with more than 400,000 subscriptions and online streams so far. It is still available for streaming and to cable viewers until August 2.