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BMI Again Posts Record Revenues; $779 Million Is Highest In Industry

Posted in News on August 27, 2006

BMI this week posted revenues (excluding Landmark Digital Services, LLC) of more than $779 million for its fiscal year 2005-2006, which ended June 30. The figure represents an increase of 7 percent over the previous year, it was announced by Del Bryant, President & CEO of BMI. The revenues resulted in royalties for distribution to BMI-affiliated songwriters, composers and publishers of $676 million, an increase of 8.2 percent over last year. These results represent the largest performing right income of any copyright organization in the industry.

"I am particularly pleased that our tradition of technology leadership and consistent attention to cost control have permitted us to deliver an ever-larger proportion of our licensing income to the songwriters, composers and copyright owners we represent," Bryant said in making the announcement. Operational expenses as a percentage of revenues decreased from 14.2 percent to 13.2 percent, the lowest in BMI's history and among the lowest of the world's major copyright organizations.

Although total license fees from traditional analog media continued to increase, revenues from cable, satellite, the Internet and other digital media surged ahead. Cable and satellite revenue grew by $24 million and now represents more than 17 percent of the company's total. New media revenues grew to more than $16 million, an increase of 35 percent over the prior year. International revenues also hit a new high at $204 million, and general licensing income, from tens of thousands of bars and restaurants, retail, and service establishments, increased 12 percent over the prior year to more than $86 million.

BMI's revenues are attributable to the diversity, scope and popularity of the music created by the more than 300,000 songwriters, composers and music publishers that the company represents. These songwriters transcend global boundaries and have broad international appeal, and include such acts as Mariah Carey, the Black Eyed Peas, Rihanna, Red Hot Chili Peppers, Shakira, Toby Keith, R. Kelly, Linkin Park, Juanes, Keith Urban, Gnarls Barkley, Korn, Don Omar and Pink, as well as top urban songwriters/producers including Lil Jon, the Neptunes, Snoop Dogg, Sean Garrett, multi-Grammy Award winner Kanye West, T.I., Jamie Foxx, and newcomers Ne-Yo and Chris Brown.

Through reciprocal agreements with foreign societies, BMI also represents such international chart-toppers as British breakout artist James Blunt (PRS) ["You're Beautiful"], Canadian rock group Nickelback (SOCAN), and Latin sensations Julieta Venegas (SGAE) and Reyli (SACM).

BMI film and television composers enjoyed impressive success, contributing music to 78 percent of all network primetime television shows and 24 of the 25 top-grossing films released during the fiscal year. BMI songwriters were awarded the majority of the Grammy and CMA awards, the Blues Awards and the Downbeat Jazz Poll. BMI classical composer Yehudi Wyner won the Pulitzer Prize in music, and Broadway celebrated the music of BMI songwriters with the multiple Tony-winning hit, Jersey Boys.