BMI Generates More Than $1 Billion in FY 2015 Revenue
Broadcast Music Inc. (BMI) generated more than $1 billion revenue during FY 2015, which ended June 30, the music rights management company said Thursday. BMI said its FY 2015 revenue total is the highest in the company's history and the…
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“most public performance revenue generated for songwriters, composers and publishers by any music rights organization in the world.” BMI's revenue from digital performances rose 65 percent from FY 2014 to more than $100 million. U.S. media licensing generated $484 million revenue, while licensing to U.S. bars, hotels and other facilities totaled $137 million, BMI said. An additional $292 million revenue came from international licenses, the company said. BMI distributed $877 million to its affiliated songwriters, composers and music publishers -- up almost 4.5 percent from FY 2014. BMI CEO Mike O’Neill in a news release said the results are "even more impressive when you consider the negative impact to our international revenues brought on by the strengthening dollar.”