Sony/ATV Music Publishing has agreed to return licensing and royalty distribution authority to Broadcast Music, Inc. (BMI) for all categories of public performance uses. Consistent with a recent Federal Court ruling, the new agreement will leave current licenses and the flow of royalties to songwriters and publishers from hundreds of thousands of licensees undisturbed.
The announcement was made by Martin Bandier, Chairman and CEO of Sony/ATV Music Publishing, the world’s largest music publishing entity, and Michael O’Neill, CEO of BMI.
The new agreement also allows BMI and music publishers to seek regulatory and legislative change to protect the value of copyright for songwriters, composers and music publishers alike.
“Sony/ATV is proud to renew our relationship with BMI, which will continue to license the world’s largest and most relevant music catalog to the hundreds of thousands of businesses that rely on music to drive their profits,” said Bandier. “In the current digital environment, it is critical that we reform the current system which does not fairly compensate songwriters and composers. BMI is an important player in this fight.”
“We appreciate the vote of confidence from Sony/ATV and the faith our writers and composers place in us every day as their trusted broker,” said O’Neill. “It is our privilege to represent the incredible writers and musical works in the Sony/ATV repertoire. We are dedicated to the mission to fairly value the rights of publishers and songwriters in today’s market.”
Sony/ATV Music Publishing, established in 1995 as a joint venture between Sony and Michael Jackson, is the world’s leading music publisher. Together with EMI Music Publishing, Leiber Stoller, Mijac Music, Motown and the Famous Music catalogs, Sony/ATV owns or administers more than 2 million copyrights, including “New York, New York,” “All You Need Is Love,” “You’ve Got a Friend,” “Moon River,” “Jailhouse Rock,” “The Mission Impossible Theme,” “Ain’t No Mountain High Enough,” “Over the Rainbow,” “Stand By Me,” “I Heard It Through the Grapevine” and “Singin’ in the Rain.” In addition, Sony/ATV represents the copyrights of such legendary artists as The Beatles, Leonard Cohen, Neil Diamond, Bob Dylan, Marvin Gaye, Michael Jackson, Carole King, Kraftwerk, Joni Mitchell, Willie Nelson, Roy Orbison, Queen, The Rolling Stones, Richie Sambora, Sting, The Supremes, Wyclef Jean, Hank Williams and Stevie Wonder, among others. Its ever-growing list of chart-topping artists, writers and producers includes Akon, Fall Out Boy, Jessie J, Norah Jones, Alicia Keys, Lady Antebellum, Lady Gaga, John Mayer, P!nk, RedOne, Shakira, Ed Sheeran, Stargate, Taylor Swift and Kanye West.