Broadcast Music Inc. had $977 million revenue, an...
Broadcast Music Inc. had $977 million revenue, an all-time BMI record, for the year ended June 30, it said in a news release Thursday (http://bit.ly/1yjB4qV). BMI distributed $840 million in royalties, also a record, in FY 2014 it said. “The…
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largest category of the Company’s domestic revenue was delivered by the steady-growth sectors of cable and satellite distributed entertainment,” said BMI. “Licensing income from digital services, international sources and from businesses such as bars, hotels, fitness facilities and restaurants all posted significant gains.” BMI has sought reforms to the consent decree process -- currently under review by the Justice Department’s Antitrust Division (WID June 5 p1) -- in favor of direct negotiations between music publishers and broadcasters (WID June 10 p10).