(Hypebot) – BMI has distributed more than $1 billion to its songwriter, composers and publishers for the first time. Fiscal year 2017 marks the third consecutive year of record royalty growth for the performing rights organization.
BMI has broken its revenue record for the third consecutive year, generating $1.13 billion to end its 2017 fiscal year. That resulted in a record $1.023 billion distribution to its songwriters, composers and publishers, and represents a 10% increase over last year. These results mark the most public performance revenue and highest royalty distributions of any music rights organization in the world, according to the PRO.