BMI and the Radio Music License Committee (RMLC) today 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 superior 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. “This new deal ensures BMI’s songwriters will be more fairly compensated for the performance of their music on this incredibly important platform. Negotiation is always better than litigation, and we’re pleased to have worked together with the RMLC to achieve this outcome.”

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. Furthermore, we feel that this agreement provides the radio industry with the ability to plan for the long-term while avoiding substantial litigation costs and uncertainties associated with the rate court process.”