The Guitar Center Company’s Post

New Post: BMI Is Selling: What This Means for Songwriters (Guest Column) - https://lnkd.in/gaPvPgYc - By now, you’ve heard the news that BMI is selling its interests to a shareholder group assembled by the private equity firm, New Mountain Capital. The sale has come with questions and consternation from songwriter advocacy groups — including the Music Artist Coalition, where I am a board member — and U.S. music attorneys. These songwriter advocates asked for (1) transparency about the sale and (2) a window of time after the sale that would allow unhappy songwriters to leave. Most questions remain unanswered, and BMI has not opened a window for songwriters to leave. But the sale seems to be proceeding anyway, subject to “regulatory approval.” Given that, here’s what you should watch out for as a songwriter, a songwriter representative or someone who benefits from administration or co-ownership of a songwriter’s songs. Related BMI Sells to New Mountain Capital 11/28/2023 1. What Does This Mean? In short, it means that BMI, which has been a not-for-profit organization since its founding in 1939, has turned into a for-profit organization and sold to a private equity company. Private equity companies acquire companies that they believe are undervalued in hopes of realizing a significant return on their investment in a relatively short period of time. This is called a “holding period.” While some private equity periods fall outside the average, in 2023 the average “holding period” for a private equity fund with a company it buys is just over seven years, which is the longest it has been in over two decades (in 2022 it was just under 6 years). According to press reports citing sources, BMI in its first year as a for-profit entity has generated about $130 million in earnings before interest, taxes depreciation and amortization (EBITDA). In order for the shareholder group to be successful, it will need to continue to grow profits or EBITDA from where they are today. To do that, they have to increase revenue and/or decrease expenses.  The concern underpinning the sale is that BMI has historically grown revenue in order to pass it on to songwriters and publishers. The only revenue BMI traditionally held back was to cover its overhead. Turning to a for-profit model with private equity owners means that BMI’s shareholders will expect to participate in the profits BMI generates (through distributions or leveraging BMI), which may mean that less of the revenue generated will be distributed to the writers and their publishers. 2. How Does This Compare With My Other Options? That is one of the unanswered questions. BMI’s goal is that there will b

Prepare for a musical odyssey that unravels the enigma of life itself. 'Revelation: The Emerald Tablet of Thought' is more than an album; it's an invitation to explore the depths of human consciousness through music. #MdotMusicalJourney https://lnkd.in/gtFT2m_x

The 10 best things to do in Austin

One of the things I learned a long time ago was the power of envisioning outcomes. It's funny how the cares of life can side-track things that were once important to you. For me the power of concentrating on what I've been learning on guitar has begun to pay off for me. I'm reminded of a video I watched where Rick Beato interviewed both Steve Vai and Joe Satriani, two of the most fantastic, learned guitar virtuosos of the last 30 years. They really are consider two of the best players. During the interview Vai, who was once a student Satriani's (really they grew up in the same neighborhood) was told by Satriani to know the fretboard the next time you show up for a lesson. Vai walked home, guitar in hand, thinking, "Oh no, I'm not going to do that." Well the next time he showed up for a lesson, the first thing Satriana said was, "Play a G# any where on the fret board." Vai couldn't do it and Satriani told him, "When you're ready to learn the notes on the guitar, come back." Which brings me to myself and my progress as a guitar player. Some nights as I lay in bed, before I nod off for the night. In my minds eye I envision the entire fretboard from one end of the neck to the other. String by string, fret by fret I learned every note. It's paid off for me. I can at any time identify notes across the strings and up and down the fretboard. It's helped learning and playing solos and it's helped me forming chords. I'll be the first one to readily admit I can't name all of the notes in some chords, but if it's a Major or Minor tri-chord I got this. Confidence. Since most rock and country songs are based on the I, IV, V and sometimes a minor Vi, we call it a progression, I've got it. I've applied the same visionary principles with knowing the fretboard to playing tri-chords across the fretboard on any three adjacent strings. Visualization is as important as it is in playing a guitar, or any instrument for that matter, as it is with any undertaking where we need to demonstrate results or mastery. Hope you enjoy this video of these two guitar greats. https://lnkd.in/gk5SSjZg

Here’s how much it costs to get to Coachella from different states across America

release day is always a special day... a fair amount of work, an untold amount of self doubt and questioning every decision you made in: - the writing - the arrangement - the recording - the mixing - the mastering all put aside, because it is out in the ether. and that, is pretty cool. #music #musicbusiness #newmusic https://lnkd.in/gQ85a52T

The 10 best things to do in Austin

The 10 best things to do in Austin

The 10 best things to do in Austin

The 10 best things to do in Austin