BMI and the Radio Music License Committee reached a settlement in their rate court proceeding that is retroactive to January 1, 2022. The agreement delivers a historic rate increase for BMI tied to BMI's market-leading share of music performed on radio stations nationwide. BMI's President and CEO characterized the outcome as the company's largest rate increase ever for the radio industry. The RMLC's Chairman described the resolution as amicable and said it reflects how strongly the radio industry values partnerships with songwriters. The settlement adjusts radio licensing rates while acknowledging BMI's advantageous market position.
BMI and the Radio Music License Committee announced a settlement of their rate court proceeding. The new agreement, which is retroactive to January 1, 2022, represents a historic rate increase for BMI that reflects the company's advantageous market share in the radio industry.
"BMI sought a rate that reflected our market-leading share of the music performed on radio stations across the country, and I'm pleased to say we achieved our largest rate increase ever for the radio industry," said Mike O'Neill, President & CEO, BMI.
Asked for comment, the RMLC's Chairman, Ed Atsinger, said: "We are pleased to have reached an amicable agreement with BMI, which is indicative of how strongly the radio industry values its partnerships with songwriters."
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