BMI Files Action in Rate Court Against SiriusXM

Today, BMI filed an action in its rate court to determine fair and appropriate fees for a license with SiriusXM. Despite years of negotiations, SiriusXM is attempting to lower its payments to BMI songwriters, composers and publishers, ignoring BMI's preeminent market share, changes in the marketplace, SiriusXM's product evolution towards a digital service, and the company's strong revenue growth. BMI's songwriters and composers should not have to accept an outdated rate that significantly undervalues their music, which provides the very foundation for SiriusXM's programming.

Mike O'Neill, BMI's President & CEO, said, "After attempting to negotiate with SiriusXM in good faith for more than two years, we were compelled to file this action given their insistence on underpaying the creators of the music that drives the majority of their business. SiriusXM's proposal is a clear attempt to rely on a rate that was established when the company was very different in terms of its size, reach, degree of digital focus and revenue growth, and falls well below what is in the best interests of our affiliates. We will continue to fight for fair and appropriate rates when we believe the music created by our songwriters and composers is being significantly undervalued."