BMI revenues increased 7% over the previous year to reach more than $779 million for its fiscal year 2005-2006, the performing right organization reported today (Aug. 28). The revenues resulted in an
BMI revenues increased 7% over the previous year to reach more than $779 million for its fiscal year 2005-2006, the performing right organization reported today (Aug. 28). The revenues resulted in an 8.2% increase in distribution of royalties to songwriters, composers and publishers totaling $676 million.
The results represent the largest performing right income of any copyright organization in the industry, says Del Bryant, president/CEO of BMI. The revenues do not include those generated from Landmark Digital Services, a service that monitors performances.
Operational expenses, as a percentage of revenues, decreased from 14.2% to 13.2%, the lowest in BMI’s history.
Cable television revenue grew by $24 million, now representing more than 17% of the company’s total. New media revenues grew to more than $16 million, an increase of 35% over the prior year.
International revenues also hit a new high at $204 million. General licensing income, from tens of thousands of bars and restaurants, retail and service establishments, increased 12% over the prior year to more than $86.6 million.
BMI film and television composers contributed music to 78% of all network primetime television shows and to 24 of the 25 top-grossing films released during the fiscal year.
BMI classical composer Yehudi Winer won the Pulitzer Prize in music during the year. The performing right organization represents more than 300,000 songwriters, composers and music publishers. Songwriter/artists include Mariah Carey, Black Eyed Peas, Red Hot Chili Peppers, Shakira, Kanye West, Toby Keith, R. Kelly, Keith Urban, Gnarls Barkley, Lil Jon, the Neptunes and Snoop Dogg.