BMI will announce today (Aug. 17) that its fiscal 2004 revenues rose 6.8% from the previous year to $673 million, a record for the New York-based performing rights group.

BMI will announce today (Aug. 17) that its fiscal 2004 revenues rose 6.8% from the previous year to $673 million, a record for the New York-based performing rights group.

BMI also says that royalties generated for its songwriter, composer and music publisher members increased 7.5% to a record $573 million during the period, which ended June 30.

International revenues rose 35% (aided by favorable exchange rates) to $186 million. New-media revenues were up 70%, due in part to licensing deals with more than 100 new mobile content companies for use of music in ringtones and other services.

"Our achievement this year is the result of the extraordinary success and popularity of the repertoire created by BMI's songwriters and composers, and of continued strength in BMI's licensing efforts," says president/CEO Frances W. Preston.

The rights group says that under the tenure of Preston, who is stepping down at the end of the month, revenues and royalties grew to more than 3.5 times their 1986 amounts.