MusicRatty: BMI Collections Up 7.2% To $901 Million

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BMI Collections Up 7.2% To $901 Million

2008-08-26 04:01:00 by Bruce Houghton in hypebot

BMI has collected $901 million in revenues for its 2008 fiscal year which ended June 20th/ This marks the first time a copyright organization has topped $900 million mark for music performance revenues and represents a 7.2% percent increase. BMI will disperse $786 million to the 375,000 songwriters and publishers it represents, an 8% percent increase over the prior fiscal year.

Growth came from music in cable, satellite radio and television contributing $208 million or...

23% of the company’s revenue. Broadcast radio and tc contributed $340 million, or 38% of revenue. Growth in income from the performance of music in retail and service establishments including restaurants and bars a increased to $97 million or 11% of BMI’s revenue. BMI’s New Media revenues increased to $15 million due to growth in mobile, social networking and websites. BMI now licenses 6,500 digital media properties up 50%. International added the final $238 million representing 26% of BMI’s revenues.