BMI distributes $750m royalties in FY2012
Music Rights group BMI distributed $749.8 million (£463.81m) in royalties to songwriters in the 12 months to end of June 2012.
The company has reported $898.8 million (£555.98m) in revenues for the fiscal year, 3% down on FY 2011. It blamed the drop - the first in two decades - on a new agreement that settles a rate litigation with the Radio Music Licensing Committee (RMLC) – the association that represents the vast majority of US radio stations.
Excluding the ...
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