Broadcast Music Inc. pumps up volume

Broadcast Music Inc., No. 24 on Crain's list of the top privately held companies, will have a big year in 2014. The music-rights management company will celebrate its 75th anniversary, and its president of nearly 10 years, Del Bryant, who climbed the ranks from artist liaison in 1972, will step down.With digital sources for music paying less in royalties than traditional broadcasting counterparts and increasingly looking to license directly from publishing houses, BMI has found itself embroiled in lawsuits with streaming sites like Pandora over fair royalty fees. But after a dip in revenue by 3%, to $900 million, in 2012—the first year in more than 20 the company saw revenue fall—BMI surged back in 2013 to project $944 million in revenue, the company's best result ever. That's a big jump from the $38 million BMI pulled in during Mr. Bryant's first year. To commemorate the big anniversary, BMI has a host of events planned and will launch a coffee-table book titled 75 Years of American Music. Continue reading at 'Crains New York'

[ Crains New York | 2013-11-17 00:00:00 UTC ]
News tagged with: #publishing houses #streaming sites #$900 million #big jump #events planned #american music

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