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FYI -- BMI Again Posts Record Revenues and Royalty Distributions; Performing Right Income of $779 Million Highest in Industry

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  • Steven Holden
    BMI Again Posts Record Revenues and Royalty Distributions; Performing Right Income of $779 Million Highest in Industry NEW YORK, NY -- (MARKET WIRE) -- August
    Message 1 of 1 , Aug 29, 2006
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      BMI Again Posts Record Revenues and Royalty Distributions; Performing
      Right Income of $779 Million Highest in Industry

      NEW YORK, NY -- (MARKET WIRE) -- August 28, 2006 -- BMI, the U.S.
      performing right organization, this week posted revenues (excluding
      Landmark Digital Services, LLC) of more than $779 million for its
      fiscal year 2005-2006, which ended June 30. The figure represents an
      increase of 7 percent over the previous year, it was announced by Del
      Bryant, President & CEO of BMI. The revenues resulted in royalties
      for distribution to BMI-affiliated songwriters, composers and
      publishers of $676 million, an increase of 8.2 percent over last
      year. These results represent the largest performing right income of
      any copyright organization in the industry.

      "I am particularly pleased that our tradition of technology
      leadership and consistent attention to cost control have permitted us
      to deliver an ever-larger proportion of our licensing income to the
      songwriters, composers and copyright owners we represent," Bryant
      said in making the announcement. Operational expenses as a percentage
      of revenues decreased from 14.2 percent to 13.2 percent, the lowest
      in BMI's history and among the lowest of the world's major copyright

      Although total license fees from traditional analog media continued
      to increase, revenues from cable, satellite, the Internet and other
      digital media surged ahead. Cable and satellite revenue grew by $24
      million and now represents more than 17 percent of the company's
      total. New media revenues grew to more than $16 million, an increase
      of 35 percent over the prior year. International revenues also hit a
      new high at $204 million, and general licensing income, from tens of
      thousands of bars and restaurants, retail, and service
      establishments, increased 12 percent over the prior year to more than
      $86 million.

      BMI's revenues are attributable to the diversity, scope and
      popularity of the music created by the more than 300,000 songwriters,
      composers and music publishers that the company represents. These
      songwriters transcend global boundaries and have broad international
      appeal, and include such acts as Mariah Carey, the Black Eyed Peas,
      Rihanna, Red Hot Chili Peppers, Shakira, Toby Keith, R. Kelly, Linkin
      Park, Juanes, Keith Urban, Gnarls Barkley, Korn, Don Omar and Pink,
      as well as top urban songwriters/producers including Lil Jon, the
      Neptunes, Snoop Dogg, Sean Garrett, multi-Grammy Award winner Kanye
      West, T.I., Jamie Foxx, and newcomers Ne-Yo and Chris Brown.

      Through reciprocal agreements with foreign societies, BMI also
      represents such international chart-toppers as British breakout
      artist James Blunt (PRS) ["You're Beautiful"], Canadian rock group
      Nickelback (SOCAN), and Latin sensations Julieta Venegas (SGAE) and
      Reyli (SACM).

      BMI film and television composers enjoyed impressive success,
      contributing music to 78 percent of all network primetime television
      shows and 24 of the 25 top-grossing films released during the fiscal
      year. BMI songwriters were awarded the majority of the Grammy and CMA
      awards, the Blues Awards and the Downbeat Jazz Poll. BMI classical
      composer Yehudi Wyner won the Pulitzer Prize in music, and Broadway
      celebrated the music of BMI songwriters with the multiple Tony-
      winning hit, "Jersey Boys."

      Now celebrating more than 65 years in business, BMI is a U.S.
      performing right organization that represents more than 300,000
      songwriters, composers and publishers in all genres of music. With a
      repertoire of more than 6.5 million musical works from around the
      world, the non-profit-making corporation collects license fees from
      businesses that use music, which it then distributes as royalties to
      the musical creators and copyright owners it represents.

      Steve Holden
      Email: sholden@...
      Blog: sholden.typepad.com

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