Dear Songwriter, Composer and Publisher,
I hope that you and your loved ones are doing well. Throughout this unprecedented time, the BMI team has been working hard to support you, and as we continue those endeavors I’m very pleased to share some good news. BMI closed our fiscal year ending June 30, 2021, with record-setting royalty distributions and revenue, despite the challenges of the global pandemic. BMI distributed and administered $1.335 billion to our affiliates, a $102 million increase over last year and our largest distribution ever, while generating historic revenue that grew 7% from last year. Our top priority has been mitigating the financial impact of the pandemic on our affiliates to the best extent possible, and we’re gratified to be able to provide that stability to you. For the sixth consecutive year, BMI’s results represent the highest reported public performance revenues and royalty distributions of any music rights organization in the world, thanks to the incredible worldwide popularity of your creative work.
A notable highlight from fiscal year 2021 was the tremendous strength of your music across digital platforms, both domestically and internationally. From digital audiovisual platforms such as Netflix, Hulu, Amazon, Disney+ and HBO Max, to music streaming services such as Spotify, Apple Music and Pandora, to video games like Fortnite, and beyond, your music was in-demand and impactful. Representing such extraordinary creators and copyright owners makes BMI the leading performing rights organization in the industry, and we are so proud to call all of you part of our BMI family. On that note, our membership this year grew to 1.2 million affiliates, while the BMI repertoire increased to 18.7 million musical works across genres.
In addition to your quarterly royalties, this distribution includes annual payments for NCTA, Sports Leagues, Theme Parks and various Video-on-Demand services for performances during calendar year 2020, as well as payments for Netflix for fourth quarter 2020 and first quarter 2021. As a reminder, in order to receive your royalties even faster in the future, please sign up for direct deposit, if you haven’t already.
As we continue to make improvements to our service to you, I’d like to remind you about our one-time additional fifth distribution on November 19, 2021, in lead up to our new distribution schedule starting in 2022. When this new schedule is implemented, BMI’s quarterly distributions will be evenly spaced apart every three months so that there is one distribution per calendar quarter, each February, May, August and November. Additionally, your royalties will be delivered about one month faster from performance to payment overall. We hope that the additional November royalty payment is useful and that the new schedule will be helpful to you moving forward.
To enhance our self-service options, we have launched a new BMI Online Services password reset program. With so many different passwords to remember, it’s easy to forget which one goes where. In order to ensure you always have access to your BMI Online Services account, please make sure we have your current email address and mobile phone number so that you can receive a text or email from us with simple instructions on how to reset your password should you need to. This will streamline the process, eliminating the need for a phone call and reducing wait time to gain access to your account. To update your email address and mobile number, please log into your Online Services account and select “Edit User Profile.”
Last but not least, I’d like to congratulate all of our affiliates who recently won BMI Awards, which were celebrated virtually across our digital platforms. This quarter, we were proud to honor the winners of BMI’s Film, TV & Visual Media Awards and our BMI Christian Awards. Kudos also go out to our Creative Arts Emmy winners, Children’s Programming & Animation Emmy winners, Emmy Documentary nominees, Daytime Emmy winner Daniel Petty, World Soundtrack nominees, Ivor Novello nominees, as well as our Billboard Latin Music Award nominees. We’re excited to pay tribute to BMI’s R&B/Hip-Hop Award winners with a dynamic digital celebration kicking off September 20, so please be sure to check out our site and social media channels this Monday. Next month, we’ll be honoring BMI’s talented London Award winners with a wonderful virtual celebration as well.
As always, I want to thank you for entrusting BMI with your unparalleled creative work. I’m looking forward to updating you again in November to coincide with our next distribution. Until then, enjoy the start of the fall season and keep creating the world’s greatest music!
President and Chief Executive Officer