Music Publishing News Roundup 9.11.15: BMI Sets Record • Sony/ATV Warns Songwriters
BMI announced record revenue and royalty distributions for the fiscal year surpassing $1 billion in revenue. This performing rights organization stated that “it generated revenues of $1.013 billion during the period ending June 30, with $877 million of that going to its songwriters, composers and publishers.”
CEO of BMI, Mike O’Neil, states that the results for this year are considered “phenomenal” and wants to continue to work hard and represent BMI affiliates.
CEO of Sony/ATV Music Publishing, Martin Bandier, has written a letter to songwriters warning them that their incomes might be negatively impacted due to changes that are taking place with the Department of Justice. These changes specifically deal with the “continuing review of the consent decrees by which collection societies ASCAP and BMI operate.” Within Bandier’s letter, he states that "this process has taken an unexpected turn in recent weeks that, if not addressed, could have a significant impact on your earnings as well as restrict how you work creatively.” Read more for details.
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