BMI Payment Schedule 2024 : Eligibility Criteria, How to track it?

BMI’s 2024 Payment Schedule ! Royalty Distributions Happen Quarterly in February, May, August, and November. Check Out the Dates Below :

BMI Payment Schedule 2024

Here’s the 2024 Payment Schedule. Royalties are Distributed Quarterly in February, May, August, and November, as per BMI’s Official Website .

Quarter	Earning Period	Payment Date
3rd Quarter 2023	October-December 2023	February 16, 2024
4th Quarter 2023	January-March 2024	May 17, 2024
1st Quarter 2024	April-June 2024	August 16, 2024
2nd Quarter 2024	July-September 2024	November 15, 2024

 

Important Note: The BMI payment schedule mentioned above is subject to change at BMI’s discretion. Keep in mind, there are specific minimum thresholds for payment via check or wire transfer. For May and November distributions, the minimum amount is $250.00, while for August, it’s $25.00.

BMI Payment 2024 Eligibility Criteria

BMI Payments: Two Key Factors – Your Affiliation and Your Music’s Performance.

Getting Paid by BMI: Here’s How it Works!

Affiliation:

1. Songwriters and Composers: To receive BMI payments, you must be affiliated with BMI as a songwriter or composer. This involves signing a contract with BMI, granting them the right to collect and distribute royalties on your behalf. A one-time affiliation fee is typically required.
2. Music Publishers: Music publishers can also affiliate with BMI to manage royalty collection for their clients’ works.

Performance of Your Music:

1. Public Performance: Your music must be publicly performed in a way covered by a BMI license. This includes radio and TV airplay, streaming services, live performances in licensed venues, and more.
2. Exclusivity: Performances covered by other PROs (Performing Rights Organizations) are not eligible for BMI payments.
3. Originality: Public domain works generally do not generate royalties unless they are significantly reworked or arranged.
4. Song Registration: Registering your songs with BMI ensures they are properly tracked and royalties collected accurately.
5. Keep Information Updated: Ensure your contact details and song information are up to date in your BMI account to receive payments promptly.
6. Split Sheets: For collaborative works, establish “split sheets” outlining royalty share percentages among writers, publishers, etc.

BMI Payment Thresholds

BMI sets minimum thresholds for royalties before they send you a payment. Here’s how it works based on your chosen payment method:

1. Check or Wire Transfer:
   • $250 for payments in February, May, and November.
   • $25 for the August payment.
2. Direct Deposit:
   • Only $2.00 for any quarter.

Why the Differences?

• Checks and wire transfers have higher thresholds to help BMI manage administrative costs.
• Direct deposit is more efficient, so the threshold is lower.

Payment Method	Minimum Threshold (February, May, November)	Minimum Threshold (August)
Check or wire transfer	$250	$25
Direct deposit	$2.00	$2.00

How to track your BMI payment ?

1. Log in to your account: Visit https://www.bmi.com/login.
2. Check the “Statements” section: Here, you’ll find your royalty statements for each quarter, showing details like earned royalties, licensing sources, and deductions.
3. Review past statements: Access statements from previous quarters to track your earning history.
4. View upcoming payment info: See if you’ve met the minimum threshold for the next distribution and get an estimate of your payment amount.

Factors Affecting BMI Payment