Tag Archives: revenue

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.

Revenue Drops as Music Accessibility Goes Up

The National Publishers Association announced that last year the US music publishing industry experienced a 2.5% drop in revenue from 2013 ($2.206 billion) to 2014 ($2.142 billion). At the organization’s annual meeting President David Israelite discussed ways to improve the bottom line, among them: redefining the economics of the streaming model to acquire a bigger piece of the pie from satellite radio stations and music streaming services and converting more free streaming subscribers into paid subscribers. He also expressed hope for Apple’s streaming service in improving music publishing revenue.