NEW YORK (CelebrityAccess MediaWire) — BMI posted revenues (excluding Landmark Digital Services, LLC) of more than $779 million for its fiscal year 2005-2006, which ended June 30. The figure represents an increase of 7 percent over the previous year. The revenues resulted in royalties for distribution to BMI-affiliated songwriters, composers and publishers of $676 million, an increase of 8.2 percent over last year. These results represent the largest performing right income of any copyright organization in the industry.
"I am particularly pleased that our tradition of technology leadership and consistent attention to cost control have permitted us to deliver an ever larger proportion of our licensing income to the songwriters, composers and copyright owners we represent," said Del Bryant, president & CEO of BMI. "Operational expenses as a percentage of revenues decreased from 14.2 percent to 13.2 percent, the lowest in BMI's history and among the lowest of the world's major copyright organizations."
Although total license fees from traditional analog media continued to increase, revenues from cable, satellite, the Internet and other digital media surged ahead. Cable and satellite revenue grew by $24 million and now represents more than 17 percent of the company's total. New media revenues grew to more than $16 million, an increase of 35 percent over the prior year. International revenues also hit a new high at $204 million, and general licensing income, from tens of thousands of bars and restaurants, retail, and service establishments, increased 12 percent over the prior year to more than $86 million.
BMI's revenues are attributable to the diversity, scope and popularity of the music created by the more than 300,000 songwriters, composers and music publishers that the company represents.
BMI film and television composers enjoyed impressive success, contributing music to 78 percent of all network primetime television shows and 24 of the 25 top-grossing films released during the fiscal year. BMI songwriters were awarded the majority of the Grammy and CMA awards, the Blues Awards and the Downbeat Jazz Poll. BMI classical composer Yehudi Wyner won the Pulitzer Prize in music, and Broadway celebrated the music of BMI songwriters with the multiple Tony-winning hit, Jersey Boys.
Now celebrating more than 65 years in business, BMI is a U.S. performing right organization that represents more than 300,000 songwriters, composers and publishers in all genres of music. With a repertoire of more than 6.5 million musical works from around the world, the non-profit-making corporation collects license fees from businesses that use music, which it then distributes as royalties to the musical creators and copyright owners it represents.
–Bob Grossweiner and Jane Cohen
