BMI collected $977 Million in revenues for the fiscal year 2014, a growth of $33 Million from last year’s $944 Million. A reported $7.5 Billion has been collected in the past 10 – year period. The top US Performing Rights Organization with songwriter members such as Taylor Swift, Adele, Maroon 5 and Kanye West attribute their success to a variety of sources that broadcast music. The largest source of revenue came from cable and satellite entertainment with licensing income from public businesses grew in revenue significantly.
Pandora and Sirius XM may owe millions to artists and labels in back royalties after losing the legal battle to Flo & Eddie over the use of pre-1972 recordings. Made by members of the 1960’s group The Turtles, the case called for an amendment to the current copyright law that allows digital broadcasters to not pay out royalties to SoundExchange for the use of pre-1972 recordings. As a result of the ruling on Monday, these two digital radio stations could be liable for back royalties they failed to pay SoundExchange for pre-1972 recordings which in Pandora’s case may be $17.1 million and for Sirius XM $33.4 million. This legal battle is followed by SoundExchange’s recent launch of their “RESPECT Act” campaign which calls for reform of copyright law for pre-1972 recordings as well as royalties from sound recordings paid out from terrestrial radio.