in , ,

BMI wins massive victory for songwriters, composers and publishers for live concert rates

Photo: Courtesy
Photo: Courtesy

In a recent decision that ends decades of below-market rates for songwriters, composers, and publishers in the live concert industry, the Honourable Louis L Stanton of the Southern District of New York issued a decision in favour of BMI in its rate court dispute with Live Nation, AEG and the North American Concert Promoters Association (NACPA).

As a result, BMI affiliates will receive a rate that is 138% higher than the historical rate. And just as important, Judge Stanton ruled that this new rate will be applied to an expanded revenue base, taking into account the way modern promoters monetise concerts. This includes tickets sold directly onto the secondary market, servicing fees received by the promoters, and revenues from box suites and VIP packages.


ADVERTISEMENT





Mike O’Neill, BMI’s President & CEO, stated:

“This is a massive 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 for the live concert category. We are gratified the Court agreed with BMI’s position that the 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 affiliates, 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 pay songwriters, composers, and publishers what they deserve finally.”


ADVERTISEMENT





Read the official report via this link.


Written by GRUNGECAKE TEAM

Money and Love: The new visuals from Wizkid

H&M strengthens inclusivity mission by expanding size offering in the United States