BMI has announced record revenue and royalty distributions for the fiscal year. The performing rights organization said on Thursday that it generated revenues of $1.013 billion during the period ending June 30, with $877 million of that going to its songwriters, composers and publishers.
Broken down, traditional revenue from all media licensing (radio, TV, cable, satellite) saw record levels at $484 million, while fees paid by bars, hotels, fitness centers and restaurants brought in an additional $137 million. On the digital side, BMI became the first U.S. PRO to exceed $100 million in revenue, thanks to a 65 percent increase over last year. Digital revenue sources included Amazon, Apple, Netflix, Pandora, Spotify and YouTube. Meanwhile, international revenue came in at $292 million, a 5 percent drop from last year.
In all, BMI said it processed around 600 billion performances during the fiscal year, 500 billion of which were digital. More than 1.2 million unique musical works were identified across the various digital services, the company said.