BMI, a major performing rights organization in the United States, has agreed to sell itself to New Mountain Capital, a private equity firm. The agency represents hundreds of thousands of songwriters, including Taylor Swift, Dolly Parton, Kendrick Lamar, and Lady Gaga. The sale is expected to result in a $100M windfall for BMI affiliates and iHeartMedia. The sale of BMI has raised questions about the impact of AI and Google's entrance into music rights management on artists' future opportunities and threats.
It turns out Broadcast Music, Inc. (BMI) affiliates aren’t the only ones set to enjoy a $100M windfall stemming from the sale of the performance rights organization. iHeartMedia has announced that it expects to receive around $100M for its BMI stake. https://t.co/H9pReyGsuH
BMI, one of the major performing rights organizations in the United States, collected $1.57 billion and distributed $1.47 billion for its 2022 fiscal year. It has agreed to sell itself to New Mountain Capital, a private equity firm. https://t.co/y8JswBSenO
3 observations on… the sale of BMI (and Google’s entrance into music rights management) (@danieltencer - @musicbizworld) https://t.co/zUEJHUZs7y
AI: An Opening Of Future Opportunities Or A Threat To Artists? (@billbones80 - @godisinthetv) https://t.co/bLJMvKXfga
BMI Is Selling: What This Means for Songwriters (Guest Column) https://t.co/25LZIvxseA
How artists can make money from their music – William Bao Bean https://t.co/hx9qDMbnxi
BMI, the giant music licensing agency that represents hundreds of thousands of songwriters, including Taylor Swift, Dolly Parton, Kendrick Lamar and Lady Gaga, has agreed to sell itself to New Mountain Capital, a private equity firm. https://t.co/y8JswBRGyg
How artists can make money from their music – William Bao Bean https://t.co/E4zsl4QOc9