Pollstar (03/29/23) Speer, Debbie

The Southern District of New York has ruled to raise the rate on live revenue paid to BMI-affiliated songwriters, composers and publishers by 138% over the historical rate, upping the amount paid by artists and promoters. The decision stems from the protracted legal battle between performing rights organization BMI and Live Nation, AEG Presents and the North American Concert Promoters Association. BMI said payments will come from secondary market ticket sales, servicing fees received by promoters and revenues from box suites and VIP packages. BMI CEO Mike O'Neill called the ruling a "massive victory" for creators, one that "will have a significant and long-term positive impact on the royalties they receive for the live concert category." Meanwhile, promoters' fears were allayed because the pay increase was far lower than what the performing rights organization sought. A Live Nation representative told Variety that the hike constitutes "less than one-third of BMI's proposed increase," amounting to roughly $15 million in costs to promoters annually, "spread out over thousands of artists, and cost increases for Live Nation directly are not material." An AEG spokesman commented that BMI receiving much less than the amount it wanted "is an important benefit for performing artists."

Read the full story from Pollstar.