Posted: Sep 7, 2007 2:43 pm
This blurb from the Nashville Business Journal:
Songwriters, composers and copyright owners can expect a bump in their royalty payments this year as the two largest performance rights organizations both recorded record revenues.
Broadcast Music Inc. (BMI), which collects and distributes royalty payments, announced this week that both its revenue and royalty distributions are at an all time high for the fiscal year ended June 30. The company had revenues of $839 million and it will pay more than $732 million to its members, which is an 8 percent increase over the previous year.
Can one of you music types help me with that? I thought it was doom and gloom and pain and agony for paid-for music these days?