Dear Songwriter, Composer and Publisher,
I am very excited to share that BMI broke records once again for our 2017 fiscal year, becoming the first performing rights organization in the world to deliver more than $1 billion to its affiliates. With total revenues of $1.130 billion, BMI distributed and administered an unprecedented $1.023 billion in royalties to our songwriters, composers and publishers, an increase of $92 million over last year. To achieve these milestone results, BMI maximized the value of your music across sectors, with revenue from digital sources, both domestically and globally, playing a strong part in the year’s success. As always, BMI’s landmark performance is a direct result of the incredible popularity of your music around the world.
On the advocacy front, the Department of Justice’s (DOJ) appeal is underway regarding Judge Stanton’s ruling, which concluded that BMI is free to continue to license musical works on a fractional basis. As part of the ongoing appeals process, last month BMI filed our response. We expect this case will continue into 2018, however, we hope for the opportunity to meet with the new leadership of the DOJ to discuss the negative impact a 100% licensing model would have on the entire music industry. We will keep you informed as developments occur.
In a groundbreaking venture, BMI and ASCAP joined forces to create a single, comprehensive database of our combined repertories that will advance the industry toward greater data transparency. This joint database is expected to launch in the fourth quarter of 2018, via BMI and ASCAP’s websites, and will serve as a foundation that we expect will evolve to include data from other businesses and PROs, acting as a true industry solution. Please stay tuned for further news on this innovative project.
In addition to your quarterly royalties, your statement reflects annual payments for the use of your music by Cable Systems, Video-On-Demand platforms: Directv, Echostar, InDemand, Lodgenet, NFL Sunday Ticket and Vubiquity, as well as Sports Leagues and Theme Parks. We are also distributing a true-up for SiriusXM for 2016, as well as now including YouTube Premium as a source where your performances are eligible for our Streaming Hits Bonus. If you haven’t already done so, please sign up for direct deposit to receive your royalties faster.
Many of our affiliates live in regions that were affected by the recent devastating hurricanes. Our thoughts are with all of you and our priority is making sure your receive your royalty distributions despite the impact of the storms. Please check bmi.com in the near future for further information.
Congratulations go out to all our affiliates who were celebrated last month at the BMI R&B/Hip-Hop Awards, including BMI Icon Patti LaBelle; Song of the Year writers Tom Barnes (PRS), Lauren Christy, Michael Keenan and Bebe Rexha for “Me, Myself & I”; Songwriters of the Year DJ Khaled, Future and Rihanna; Producer of the Year Metro Boomin; and Publisher of the Year Universal Music Publishing Group. At our BMI Christian Awards, we were proud to salute Songwriter of the Year Bernie Herms; Song of the Year writer Tony Brown for “Good Good Father”; and Publisher of the Year Capitol CMG Publishing. We look forward to honoring our international affiliates at BMI’s London Awards in October, as well as our country songwriters and publishers at BMI’s Country Awards in November.
In the wake of this record-breaking year, I want to thank you for your continued trust and reiterate how privileged we are to represent your music. No matter how much our industry evolves, you can always count on BMI’s commitment to protecting your rights and ensuring the full and fair value of your creative work.
President and Chief Executive Officer