BMI Distributes, Administers $1.02 Billion in Royalties, Has $1.13 Billion Revenue
BMI distributed and administered a record $1.02 billion in royalties to composers, songwriters and publishers and had $1.13 billion in revenue to end FY 2017, said the performing rights organization's news release Thursday. Royalty distributions -- including domestic, international and…
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direct deals that BMI administers on behalf of publishers -- were 10 percent higher from the prior fiscal year. Total domestic revenue, which included digital, media and general licensing, reached $836 million, up 7 percent. It said new long-term agreements with Netflix, Hulu and others helped boost digital revenue 7 percent to $163 million, while growth in terrestrial radio, cable and satellite radio categories upped media licensing revenue 6 percent to $524 million. The PRO processed nearly 1.4 trillion performances -- 1.35 trillion digital -- this year, up about 40 percent.