NASHVILLE – January 01: BMI (Broadcast Music, Inc.) building on January 1, 2016 in Nashville, Tennessee. (Photo By Raymond Boyd/Getty Images)

BMI, the esteemed music licensing titan representing renowned artists like Taylor Swift and Kendrick Lamar, announced its sale to private equity firm New Mountain Capital. This move, undisclosed financially, aims to reshape BMI’s trajectory. Long operating on a nonprofit basis, BMI collected a record-breaking $1.57 billion in 2022, distributing $1.47 billion to songwriters and publishers. Recent shifts toward a for-profit model stirred concern among artists, fearing potential cuts in royalties. Despite this, CEO Michael O’Neill affirmed a commitment to maintain 85% of revenue distribution to affiliates. New Mountain Capital is poised to innovate BMI’s structure and operations, potentially modernizing the music licensing landscape.