New media licensing revenues increased by 114%.
BMI this week posted revenues for the fiscal year 2004 -2005 of more than $728 million, an increase of more than 8.3% over the previous year. The revenues resulted in performance royalties to the performing rights organization's songwriters, composers and publishers of more than $623 million, an increase of nearly $51 million over the prior year.
CEO/president Del Bryant says that the results mark the first time that any copyright organization in the world has crossed the threshold of $700 million in revenues in performing rights collections. "The increase in our revenues and royalty distribution for the 15th year in a row shows the overall health of our business and our commitment to seek new areas of income and to decrease operational expenses."
Significantly higher license fees were secured in the new media and mobile entertainment areas during the year, and more than 500 new digital music providers were licensed including subscription music service Rhapsody, the streaming radio service for mobile service mobZilla, and major wireless carriers.
New media licensing revenues increased by 114%, year over year, totaling $11.4 million. Fees from mobile entertainment (ringtones) accounted for the largest segment of the increase.
International revenues increased by more than 9% to more than $202.9 million while the general licensing area showed an increase of more than 12.7% due to a new contract with the Muzak background music service and the strong growth in licensing eating and drinking establishments, aerobic centers and skating rinks.
Operational expenses as a percentage of revenues decreased from 14.6% to 14.2%, the lowest in the company’s history, the PRO says.