Broadcast Music Inc. increased revenue by $45...
Broadcast Music Inc. increased revenue by $45 million, for a 5 percent gain over FY2012 to $944 million, it said in a Monday release (http://bit.ly/1dEdYgS). The “record-setting” revenue resulted in a historic high royalty distribution of $814 million, a 9…
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percent increase from the previous year, and the largest revenue posted and royalties distributed in the company’s history. “The year’s results reflect BMI’s ability to monetize new delivery systems, while growing traditional revenue sources such as retail and service establishments and programming delivered via satellite and cable television,” it said. It increased its new media revenue by 65 percent over the previous fiscal year, it said, due to agreements with Netflix, Hulu and other digital entertainment outlets.