In 2023, the US collecting society BMI was acquired by the investor group New Mountain Capital. Shortly afterwards, BMI announced that it would change its legal form from a non-profit to a for-profit organization. This was promptly followed by the announcement to increase the management fee from 10 to 15 per cent. In 2022, BMI took in 1.6 billion in royalty payments, making it one of the largest US collecting societies. This was not the first time that an investment company acquired a collecting society. In 2017, the Blackstone Group acquired SESAC, another US collecting society, which is now also a for-profit company.

At a time in which music rights appear as an ever more important part of the industry and are a significant growth factor, our panel will discuss how we may maintain the independence of collecting societies and will shed light on the opportunities and risks these recent developments pose for rightsholders.