US performance-rights organisation BMI has announced a strong set of figures for its 2017 fiscal year, which ended recently.
The company generated $1.13bn of revenues, distributing just over $1.02bn to songwriters, composers and publishers – up 10% year-on-year. BMI is hailing the results as “the most public performance revenue and highest royalty distributions of any music rights organisation in the world”.
Within that, digital revenues for BMI grew by 7% to $163m, which it says were boosted by new long-term deals with video-streaming services Netflix and Hulu. BMI’s media licensing revenues from terrestrial radio, cable and satellite radio partners grew to $524m meanwhile.
BMI said that it processed nearly 1.4 trillion performances in its last year, up 40%, with 1.35 trillion of those performances being digital.
“We are thrilled to have been able to achieve these record distributions, but we still believe our affiliates deserve more,” said president and CEO Mike O’Neill, alluding to the ongoing rows in the US over which entities aren’t paying royalties but should be, as well as those that the music industry believes should be paying more.