US-based performance rights organization BMI has reached an agreement in principle to settle its ongoing rate dispute over radio royalties with the RMLC (Radio Music License Committee), which represents more than 10,000 commercial radio stations in the US.
BMI and the RMLC are entering into a new multi-year deal covering the 2017-2021 period.
A release from BMI claimed that “the new license carries a rate that reflects the strength of BMI’s repertoire and its share of radio spins, which is higher than any other Performing Rights Organization”.
Mike O’Neill (pictured), President & CEO, BMI, said: “We’re pleased to reach an agreement with the RMLC that reflects a much more appropriate value for our affiliates’ music.