US performance rights body BMI has announced its latest financials, revealing revenues of just over $1bn for its last fiscal year, which ended on 30 June. The company says it paid out $877m to its songwriters, composers and music publishers that year – up 4.5% year-on-year and its record total. BMI’s revenues included $100m of digital income,
which was up 65% year-on-year thanks to payments from Spotify, Apple, Pandora, YouTube, Amazon and Netflix among other services. That still pales next to the $484m from media licensing, with another $137m coming from general licensing. But digital accounted for the lion’s share of actual performances processed by BMI in its last year: more than 500bn of the 600bn total performances. BMI says it identified more than 1.2m unique musical works on digital services – an interesting figure in the light of the 30m-35m tracks that most services now boast in their catalogues.
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