Dear Songwriter, Composer and Publisher,
I’m very pleased to share that BMI had a record-breaking 2018 fiscal year, thanks to your incredible creative efforts. BMI generated total revenues of $1.199 billion and distributed and administered an unprecedented $1.118 billion in royalties to our songwriters, composers and publishers, an increase of $95 million over last year. These results reflect the strength of your music in all markets, particularly across digital platforms, with revenue in that category hitting an all-time high of $215 million. Notably, BMI reported the highest public performance revenue and royalty distributions of any music rights organization in the world, an achievement directly due to the worldwide popularity of your groundbreaking music.
There’s a lot happening in Washington, D.C., and we have good news to report on the legislative front. In June, the Senate Judiciary Committee unanimously approved an amended version of the Music Modernization Act (MMA), paving the way for a full Senate vote. This bill represents real possibility to enact meaningful music licensing reform that would benefit both the songwriters and composers who work hard to create music and the diverse businesses that benefit from its use. BMI is optimistic about the MMA’s passage, and we greatly appreciate the support of Congress in this matter.
BMI is pursuing further discussions with lawmakers on Capitol Hill through the BMI Legislative Fund, a political action committee (PAC) that will ensure the voices of creators and those that support them are heard. I’d like to sincerely thank those of you who have already contributed to the PAC, and if you would like to learn more and add your support now, you can easily do so by visiting our site. In regard to our consent decree, BMI is continuing our dialogue with the Department of Justice to determine how best to serve the evolving marketplace. As always, I will update you as news develops.
Also this quarter, BMI continued to make progress with ASCAP on the forthcoming joint database of musical works. As you know, this first-of-its-kind initiative will lead the industry towards greater data transparency, and we are excited for its launch later this year.
In addition to your quarterly royalties, this distribution reflects BMI’s annual distributions for the use of your music on various Pay-Per-View and Video-on-Demand services, as well as sports leagues and theme parks. Also included are additional 2017 payments for SiriusXM, 2016-2017 payments for SoundCloud, 2017 payments for Crackle, and payments from 2014 to the present for YouTube Video-on-Demand. As a reminder, I encourage you to sign up for direct deposit in order to receive your royalties faster, safer and greener.
Last, but certainly not least, congratulations to all our affiliates celebrated last month at BMI’s R&B/Hip-Hop Awards, including our newest Icon Janet Jackson, Songwriter and Producer of the Year Metro Boomin, Song of the Year writers Thomas Bangalter and Guy-Manuel De Homem-Christo for “I Feel It Coming,” Publisher of the Year Universal Music Publishing Group, and Social Star winner Derez De’Shon. At BMI’s Christian Awards in June, we were proud to salute Song of the Year writers Ben Fielding (APRA) and Brooke Ligertwood (APRA) for “What a Beautiful Name,” Songwriter of the Year Ed Cash, as well as Publisher of the Year Capitol CMG Publishing. Kudos also go to legendary songwriter John Prine, who recently received BMI’s Troubadour Award for his outstanding contributions to American music. Looking ahead, we’re excited to honor our international songwriters, composers and publishers at BMI’s London Awards in October, as well as our country writers and publishers at BMI’s Country Awards in November.
Thank you for all your creative contributions that resulted in such a successful year. BMI is truly privileged to represent your music and we look forward to all the great songs you will write next.
President and Chief Executive Officer