Music

Page 72 of 79

Revenue from licensing music for digital streaming has meant big revenue bumps for agencies like BMI and Ascap. Perhaps it’s time for the “B” in BMI to stand for “billion”—as in $1 billion in annual revenue. The music agency, whose full name is Broadcast Music Inc., announced Thursday that it set an industry record by raking in $1.013 billion over the year ending June 30. That’s BMI’s highest yearly revenue ever, and it squeaks by the $1.001 billion reported earlier this year by ASCAP, BMI’s main rival for handling music licensing and artists’ songs for play on radio, television, streaming media, and other platforms. BMI and ASCAP — the latter of which said it was the first performing rights organization to top $1 billion — have increased their revenue in recent years even as the music industry on the whole remains in flux due to evolving distribution models. The increase comes amid higher consumption of digital music, which requires streaming services like Pandora P 0.38% , Spotify, YouTube GOOG 1.15% , and Apple Music AAPL 2.09% to pay BMI and ASCAP royalties to stream songs by their songwriter members. Together, ASCAP and BMI represent a reported 90% of songs released commercially in the U.S. BMI's roster of artists includes Taylor Swift, Lady Gaga, and Lil Wayne.
Tech

Former Pandora Exec: Taylor Swift’s Apple fight ‘mostly theater’

By
June 22, 2015
Taylor Swift The 1989 World Tour Live In Cologne - Night 2
Tech

Apple Music: Money, power, and Taylor Swift

By
June 22, 2015
Taylor Swift.
Tech

Apple gives in on music fees after Taylor Swift’s letter

By
June 22, 2015
Taylor Swift performs in Times Square on New Year's Eve in New York
Tech

What Taylor Swift wrote Apple

By
June 21, 2015
Inside An AT&T Inc. Store Ahead Of Earnings Figures
Tech

This stat will make you question Beats headphones forever

By
June 19, 2015
Sonar Music Festival 2015 - Day 1
Leadership

Music festivals: From peace and free love to startup pitches and corporate consolidation

By
June 19, 2015
Spotify Press Announcement
Tech

This Spotify hire could point to an IPO

By
June 18, 2015
Donald Trump Presidential Announcement
Leadership

6 times musicians hated politicians who used their music

By
June 17, 2015
Key Speakers At The Apple Worldwide Developers Conference (WWDC)
Tech

Independent record labels say Apple is trying to put them out of business

By
June 17, 2015
Apple Worldwide Developers Conference Opens In San Francisco
Tech

How Apple could get indie music labels on board with Apple Music

By
June 17, 2015
Trump International Hotel Washington, D.C Groundbreaking Ceremony
Features

Neil Young hates that Donald Trump is using his music

By
June 17, 2015
Pandora To Raise $231 Million With Sale Of 10 Million Shares
Arts & Entertainment

Here’s why Pandora just bought a radio station in South Dakota

By
June 16, 2015
Key Speakers At The Apple Worldwide Developers Conference (WWDC)
Tech

Here’s exactly how much Apple is paying record labels

By
June 15, 2015
Jimmy Iovine
Tech

Here’s why audiophiles might hate Apple Music

By
June 11, 2015
Is Apple Music the ebooks antitrust case all over again?
Tech

Is Apple Music the ebooks antitrust case all over again?

By
June 10, 2015

Most Popular