BMI has distributed more than $1 billion to its songwriter, composers and publishers for the first time. Fiscal year 2017 marks the third consecutive year of record royalty growth for the performing rights organization.
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BMI has broken its revenue record for the third consecutive year, generating $1.13 billion to end its 2017 fiscal year. That resulted in a record $1.023 billion distribution to its songwriters, composers and publishers, and represents a 10% increase over last year. These results mark the most public performance revenue and highest royalty distributions of any music rights organization in the world, according to the PRO.
Revenue Breakdown
- BMI’ s total domestic revenue, encompassing digital, media, and general licensing, came in at a record $836 million, a $52 million or 7% increase over last year. Digital revenue saw its highest performance to date, up 7% to $163 million, helped in part by new long term agreements with Netflix and Hulu, among others. Media Licensing came in at $524 million, a $32 million increase over last year driven by growth in the terrestrial radio, cable and satellite radio categories.
- General Licensing, which includes fees from businesses like restaurants, bars, hotels, shopping centers and fitness facilities, along with other income, grew a solid 7% to $149 million. The category added 13,000 new businesses to its growing portfolio.
- International revenues grew to $294 million, an increase of $18 million or 7% over the prior year. These results are particularly impressive given the continued strengthening of the dollar against foreign currencies. BMI would have seen an additional $10 million in international revenue if not for the unfavorable exchange rates.
- Total domestic revenue, encompassing digital, media, and general licensing, came in at a record $836 million, a $52 million or 7% increase over last year. Digital revenue saw its highest performance to date, up 7% to $163 million, helped in part by new long term agreements with Netflix and Hulu, among others. Media Licensing came in at $524 million, a $32 million increase over last year driven by growth in the terrestrial radio, cable and satellite radio categories.
- The $1.023 billion in total distributions was comprised of domestic and international royalties, as well as royalties from direct deals that BMI administers on behalf of its publishers. Those deals, which account for approximately 3% of BMI’s total distribution, helped the company achieve its record payments to affiliates.
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BMI processed nearly 1.4 trillion performances this year, 40% more than last year. This includes both audio and audiovisual performances, of which 1.35 trillion were digital, highlighting the ongoing move to digital within the industry as well as BMI’s ability to manage big data and convert it to actionable information.
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BMI operates on a non-profit making basis, returning approximately 88% of all revenue to the musical creators and copyright owners the company represents.