The question isn’t so much about whether this will be good for creators — but, rather, which ones.
President and CEO Mike O'Neill will continue to lead the PRO.
The Billboard Global Music Index dropped 0.2% to 1,449.08, bringing its year-to-date gain to 24.1%.
Six questions for any BMI member concerned about the pending sale.
The performance rights organization said its new-model goal is to distribute 85% of the licensing revenue it collects to songwriters and publishers.
While there's plenty of consternation around BMI's turn to a for-profit model and plans to sell, some in the business are recommending a wait-and-see approach.
"The global song rights market is changing rapidly."
After Billboard reported that BMI may sell, ASCAP began posting on social media, highlighting its distinctions from its competitor.
In a letter to BMI CEO and president Mike O'Neill, songwriter groups ask for "real, substantive answers" about how its new business moves will affect signees.
New Mountain Capital is buying the performance rights organization, sources tell Billboard.
