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BMI Annual Royalty Distributions Top $1 Billion For First Time

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Hypebot reports: “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. 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.”

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