NEW YORK, Jan. 30, 2020 /PRNewswire/ -- BMI (Broadcast Music, Inc.) and the RMLC (Radio Music License Committee) have reached an agreement in principle to settle their ongoing rate dispute, entering into a new multi-year deal covering the 2017-2021 period. The new license carries a rate that reflects the strength of BMI's repertoire and its share of radio spins, which is higher than any other Performing Rights Organization.
Mike O'Neill, President & CEO, BMI, stated, "We're pleased to reach an agreement with the RMLC that reflects a much more appropriate value for our affiliates' music. While litigation is sometimes a necessary step, our preference is always to work out an amicable solution with our licensing partners while continually keeping the best interests of our songwriters top of mind. BMI looks forward to working with the RMLC to improve transparency in the marketplace and enhance the flow of information between our two organizations."
Ed Atsinger, Chair of the RMLC, stated, "We are happy that our impasse with BMI has reached an amicable conclusion. The radio industry believes strongly that songwriters should be compensated fairly, and with BMI's support, we hope that this deal will assist others in the music licensing community in determining fair rates for everyone on both sides."
In addition to the new agreed-upon rate, which is retroactive to 2017, the RMLC has agreed to a one-time payment to BMI for litigation fees. The new agreement also clarifies and preserves the platforms that are covered by the scope of the license and associated revenue, including over-the-air broadcasts, as well as the stations' simulcast streaming, podcasts and HD radio.
The final deal implementing the parties' agreement in principle in a mutually acceptable long-form agreement is subject to the Court's full approval.
Celebrating over 80 years of service to songwriters, composers, music publishers and businesses, Broadcast Music, Inc.® (BMI®) is a global leader in music rights management, serving as an advocate for the value of music. BMI represents the public performance rights in over 15 million musical works created and owned by more than one million songwriters, composers, and music publishers. The Company negotiates music license agreements and distributes the fees it generates as royalties to its affiliated writers and publishers when their songs are performed in public. In 1939, BMI created a groundbreaking open-door policy becoming the only performing rights organization to welcome and represent the creators of blues, jazz, country, and American roots music. Today, the musical compositions in BMI's repertoire, from chart toppers to perennial favorites, span all genres of music and are consistently among the most-performed hits of the year. For additional information and the latest BMI news, visit bmi.com, follow us on Twitter @BMI or stay connected through Broadcast Music, Inc.'s Facebook page. Sign up for BMI's The Weekly™ and receive our e-newsletter every week to stay up to date on all things music.
ABOUT THE RMLC:
The RMLC is a non-profit corporation that represents commercial radio stations with respect to music licensing matters involving performing right organizations such as ASCAP, BMI and SESAC. The RMLC's Board of Directors consists of a diverse group of radio station owners and/or management who serve on a voluntary basis and without compensation. For additional information, visit http://www.radiomlc.org.
SOURCE Broadcast Music, Inc.