BMI generated $1.311 billion in revenue in the year ended June 30, 2020, a 2.2% increase over the $1.283 billion it reported in the year earlier period.
Distributions were up too, totaling $1.233 billion -- a 3.1% increase from the $1.196 billion paid out to songwriters and publishers in the prior fiscal year.
While BMI and ASCAP have traded top revenue honors for the last few years, this year marks the first time that BMI has maintained the lead. The two PROs measure different time periods, with the BMI year running through June 30 and ASCAP trading on a standard calendar year, allowing for the largest revenue honors to seesaw back and forth. BMI claimed the honor in 2019 and held onto it this year when ASCAP announced $1.274 billion in revenue in May.
Breaking out domestic revenue by licensing source, general licensing collections totaled $130 million, or a 23.1% decrease from $169 million collected from that sector in the previous fiscal year. However, new media licensing revenue growth offset $32 million of the $39 million in general licensing collections drop as the digital sector licensing revenue grew 16% to $304 million from $262 million.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMI Announces Record Revenue of $1.31 BillionDespite the impact of the coronavirus pandemic, BMI closed its fiscal year (which ended June 30) with record revenue and royalty distributions. The company generated $1.311 billion in revenu…
Read more »
Race to Erase MS Raises $1.4M at Rose Bowl Drive-in EventThe COVID-19-era gala honored the late Jason Davis and featured Andy Grammer, Derek Hough and Siedah Garrett.
Read more »
Silver Lake to invest $1 billion in retail arm of India's RelianceReliance Industries Ltd said on Wednesday U.S. private equity firm Silver Lake Partners will invest $1.02 billion in its retail business, helping the Mukesh Ambani-controlled company widen its lead as India's biggest retailer.
Read more »
BMI Announces Record Revenue of $1.31 BillionDespite the impact of the coronavirus pandemic, BMI closed its fiscal year (which ended June 30) with record revenue and royalty distributions. The company generated $1.311 billion in revenu…
Read more »
61% Of Women Are Planning A Major Career Change Post-Pandemic, New Survey Shows1 in 4 surveyed women are looking forward to starting their own businesses post-pandemic.
Read more »
Spain Music Revenues Up 4% This Year as Streaming Thrives During PandemicDespite being one of the countries most visibly pummeled by the COVID 19 crisis, Spain saw a 3.99% increase in revenue for the first six months of 2020, reaching 145.1 million Euros, up from 139.5 million Euros for the same time period in 2019.
Read more »