NEW YORK, March 28, 2023 /PRNewswire/ — In a decision ending decades of below market pricing for songwriters, composers and publishers in the live concert industry, the Honorable Louis L. Stanton of the Southern District of new York today rendered a decision in favor of BMI in its installment court dispute with Live Nation, AEG and the North American Concert Promoters Association (NACPA). As a result, BMI partners receive a rate that is 138% higher than the historical rate. And just as importantly, Judge Stanton ruled that this new rate would be applied to an expanded revenue base, taking into account the way modern promoters monetize concerts. This includes tickets sold directly on the secondary market, service fees received from event organizers, and revenue from box suites and VIP packages.

Mike O’NeillPresident and CEO of BMI stated:

“This is a tremendous victory for BMI and the songwriters, composers and publishers we represent. It will have a significant and long-term positive impact on the royalties they receive from the live concert category. We are pleased that the Court agreed with BMI’s position that music created by songwriters and composers is the backbone of the live concert industry and should be valued accordingly. Today’s decision also underscores BMI’s continued mission to fight on behalf of our partners, no matter how long it takes, to ensure they receive fair value for their creative work.

While we’re thrilled with this outcome, we find it incredibly disappointing that it took millions of dollars and years of litigation to get Live Nation, AEG and NACPA to finally pay songwriters, composers and publishers what they deserve. “

ABOUT BMI:

Celebrating more than 80 years serving songwriters, composers, music publishers and corporations, Broadcast Music, Inc.® (BMI®) is a global leader in music rights management dedicated to the value of music. BMI represents the public performance rights to over 20.6 million musical works created and owned…