Broadcast Music Inc., one of the country’s largest music licensing organizations, has opened an office on Miracle Mile, establishing a physical presence in Coral Gables as Latin music continues to expand its share of the American music market.

The office opened Oct. 15 with a ribbon-cutting attended by Mayor Vince Lago, representatives of the Coral Gables Chamber of Commerce and senior BMI executives. The company said the new location will support songwriters, composers, producers and music publishers throughout South Florida, Puerto Rico and Latin America.

The expansion comes as U.S. Latin recorded-music revenue surpassed $1 billion annually for the first time in 2025 and continued growing faster than the overall market during the first half of 2026.

BMI, founded in 1939, operates as a performing rights organization. It licenses the public performance of musical compositions on radio, television, streaming services and in businesses such as restaurants, hotels and entertainment venues, then distributes royalties to affiliated songwriters, composers and publishers.

Unlike a record label, which typically earns revenue from the sale or streaming of recordings, BMI manages performance rights associated with the underlying songs.

Coral Gables was a deliberate choice

BMI’s senior leadership traveled to Coral Gables for the opening, including Chief Executive Mike O’Neill, Executive Vice President and Chief Revenue and Creative Officer Mike Steinberg, and Jesús González, the company’s vice president of creative for Latin music.

O’Neill thanked city officials and the Chamber for welcoming the company and said the office would serve music creators from Miami and beyond.

González emphasized that the location was chosen deliberately.

“Our decision to call Coral Gables home was intentional,” he said.

“We didn’t simply want an office. We wanted a home.”

González, who joined BMI in 2021, oversees its Latin creative operations. His team works with songwriters, composers and publishers whose music increasingly reaches audiences across national and language boundaries.

Steinberg framed the company’s expansion as a response to Latin music’s growing commercial influence.

“It’s not crossing over anymore, it’s leading,” he said.

He described Miami as an important creative center for the industry and said BMI intends to build on the region’s established musical connections.

Latin music outpaces the broader market

The timing reflects a measurable shift in the American recording industry.

Latin music generated $1 billion in U.S. wholesale recorded-music revenue in 2025, an increase of 4.2 percent over the previous year, according to the Recording Industry Association of America.

That represented a record 8.8 percent of the U.S. recorded-music market. Latin revenue grew faster than the overall industry’s 3.1 percent increase.

The momentum continued this year.

According to the RIAA’s September 2026 midyear report, Latin recorded-music revenue reached $542.2 million during the first six months of 2026, up 8.6 percent from the same period a year earlier. The broader U.S. market grew 6.9 percent.

Latin music accounted for 9.1 percent of American recorded-music revenue during the period. Streaming generated 96 percent of the Latin total, while paid subscription revenue increased 12.4 percent to $308.4 million.

The figures measure revenue generated by recordings, not the performance royalties BMI collects. Still, they illustrate the growth in music consumption and commercial activity that makes the Latin market attractive to music-rights companies.

A music-rights company under private ownership

BMI’s regional investment also comes during a period of significant corporate change.

The company operated on a not-for-profit basis for decades before adopting a for-profit business model in 2022. In February 2024, private-equity firm New Mountain Capital completed its acquisition of a majority interest in BMI.

The purchase price was not disclosed.

As part of the transaction, BMI’s former shareholders allocated $100 million from the sale proceeds to eligible affiliated songwriters, composers and publishers. The company distributed the funds in March 2024, separately from its regular royalty payments.

The ownership change distinguishes BMI from rival ASCAP, which continues to operate as a not-for-profit membership organization. Both companies operate under federal antitrust consent decrees governing important aspects of music licensing.

For BMI, a new office in Coral Gables represents part of its broader commercial expansion under private ownership, although the company has not disclosed the investment associated with the new location.

Another corporate arrival on Miracle Mile

BMI joins a growing list of companies establishing or expanding operations in Coral Gables’ central business district.

In April, the Gazette reported that Terranova Corp. had signed 17 new leases and one expansion totaling 96,791 square feet across properties on Miracle Mile and nearby Alhambra Circle.

The transactions represented more than $56 million in rent over the life of the agreements and involved tenants in financial services, hospitality, dining, wellness and retail.

Among the companies expanding into the area was UMusic Hospitality and Lifestyle, a hospitality venture backed by Universal Music Group, which leased 3,369 square feet at 255 Alhambra Circle.

That activity illustrates Coral Gables’ appeal to companies seeking a business address outside Miami’s downtown and Brickell districts.

BMI was not among the tenants identified in the April report, and its announcement does not identify the landlord of its new office.

Nor does the company disclose the office’s street address, square footage, lease terms or number of employees. It has not said whether the Coral Gables location replaces any existing operations elsewhere in Miami-Dade County.

Those details would help establish the scale of BMI’s investment and its potential contribution to local employment.

Music industry figures celebrate the opening

The Oct. 15 celebration brought together music executives, songwriters, producers and performers with local civic leaders.

Guests included Mario Quintero Lara, leader of the regional Mexican band Los Tucanes de Tijuana; Colombian songwriter and producer Kike Santander; pianist Arthur Hanlon; and music industry figures Albert Hype, Boy Wonder, Natacha Chacin and Paty B.

The evening featured DJ sets by Play-N-Skillz and SUNTEA, with catering from Buccan and Imoto.

Latin pop singer-songwriter Zulia closed the event with a live performance. She was introduced by Billboard executive Leila Cobo, who discussed the expanding influence of Latin music.

For BMI, the performance offered a demonstration of the creative community the new office is intended to serve.

For Coral Gables, the company’s arrival adds a global music-rights business to a commercial district already attracting financial, hospitality and professional services firms.

The remaining question is how extensively BMI will build its local operation—and whether its Miracle Mile office becomes a regular gathering place for the songwriters and producers whose work is driving Latin music’s growth.

BMI opens Coral Gables office aimed at Latin music creators

By Coral Gables Gazette staff

Broadcast Music Inc., one of the country’s largest music licensing organizations, has opened an office on Miracle Mile, establishing a physical presence in Coral Gables as Latin music continues to expand its share of the American music market.

The office opened Oct. 15 with a ribbon-cutting attended by Mayor Vince Lago, representatives of the Coral Gables Chamber of Commerce and senior BMI executives. The company said the new location will support songwriters, composers, producers and music publishers throughout South Florida, Puerto Rico and Latin America.

The expansion comes as U.S. Latin recorded-music revenue surpassed $1 billion annually for the first time in 2025 and continued growing faster than the overall market during the first half of 2026.

BMI, founded in 1939, operates as a performing rights organization. It licenses the public performance of musical compositions on radio, television, streaming services and in businesses such as restaurants, hotels and entertainment venues, then distributes royalties to affiliated songwriters, composers and publishers.

Unlike a record label, which typically earns revenue from the sale or streaming of recordings, BMI manages performance rights associated with the underlying songs.

Coral Gables was a deliberate choice

BMI’s senior leadership traveled to Coral Gables for the opening, including Chief Executive Mike O’Neill, Executive Vice President and Chief Revenue and Creative Officer Mike Steinberg, and Jesús González, the company’s vice president of creative for Latin music.

O’Neill thanked city officials and the Chamber for welcoming the company and said the office would serve music creators from Miami and beyond.

González emphasized that the location was chosen deliberately.

“Our decision to call Coral Gables home was intentional,” he said in the company’s Oct. 16 announcement.

“We didn’t simply want an office. We wanted a home.”

González, who joined BMI in 2021, oversees its Latin creative operations. His team works with songwriters, composers and publishers whose music increasingly reaches audiences across national and language boundaries.

Steinberg framed the company’s expansion as a response to Latin music’s growing commercial influence.

“It’s not crossing over anymore, it’s leading,” he said.

He described Miami as an important creative center for the industry and said BMI intends to build on the region’s established musical connections.

Latin music outpaces the broader market

The timing reflects a measurable shift in the American recording industry.

Latin music generated $1.0096 billion in U.S. wholesale recorded-music revenue in 2025, an increase of 4.2 percent over the previous year, according to the Recording Industry Association of America.

That represented a record 8.8 percent of the U.S. recorded-music market. Latin revenue grew faster than the overall industry’s 3.1 percent increase.

The momentum continued this year.

According to the RIAA’s September 2026 midyear report, Latin recorded-music revenue reached $542.2 million during the first six months of 2026, up 8.6 percent from the same period a year earlier. The broader U.S. market grew 6.9 percent.

Latin music accounted for 9.1 percent of American recorded-music revenue during the period. Streaming generated 96 percent of the Latin total, while paid subscription revenue increased 12.4 percent to $308.4 million.

The figures measure revenue generated by recordings, not the performance royalties BMI collects. Still, they illustrate the growth in music consumption and commercial activity that makes the Latin market attractive to music-rights companies.

A music-rights company under private ownership

BMI’s regional investment also comes during a period of significant corporate change.

The company operated on a not-for-profit basis for decades before adopting a for-profit business model in 2022. In February 2024, private-equity firm New Mountain Capital completed its acquisition of a majority interest in BMI.

The purchase price was not disclosed.

As part of the transaction, BMI’s former shareholders allocated $100 million from the sale proceeds to eligible affiliated songwriters, composers and publishers. The company distributed the funds in March 2024, separately from its regular royalty payments.

The ownership change distinguishes BMI from rival ASCAP, which continues to operate as a not-for-profit membership organization. Both companies operate under federal antitrust consent decrees governing important aspects of music licensing.

For BMI, a new office in Coral Gables represents part of its broader commercial expansion under private ownership, although the company has not disclosed the investment associated with the new location.

Another corporate arrival on Miracle Mile

BMI joins a growing list of companies establishing or expanding operations in Coral Gables’ central business district.

In April, the Gazette reported that Terranova Corp. had signed 17 new leases and one expansion totaling 96,791 square feet across properties on Miracle Mile and nearby Alhambra Circle.

The transactions represented more than $56 million in rent over the life of the agreements and involved tenants in financial services, hospitality, dining, wellness and retail.

Among the companies expanding into the area was UMusic Hospitality and Lifestyle, a hospitality venture backed by Universal Music Group, which leased 3,369 square feet at 255 Alhambra Circle.

That activity illustrates Coral Gables’ appeal to companies seeking a business address outside Miami’s downtown and Brickell districts.

BMI was not among the tenants identified in the April report, and its announcement does not identify the landlord of its new office.

Nor does the company disclose the office’s street address, square footage, lease terms or number of employees. It has not said whether the Coral Gables location replaces any existing operations elsewhere in Miami-Dade County.

Those details would help establish the scale of BMI’s investment and its potential contribution to local employment.

Music industry figures celebrate the opening

The Oct. 15 celebration brought together music executives, songwriters, producers and performers with local civic leaders.

Guests included Mario Quintero Lara, leader of the regional Mexican band Los Tucanes de Tijuana; Colombian songwriter and producer Kike Santander; pianist Arthur Hanlon; and music industry figures Albert Hype, Boy Wonder, Natacha Chacin and Paty B.

The evening featured DJ sets by Play-N-Skillz and SUNTEA, with catering from Buccan and Imoto.

Latin pop singer-songwriter Zulia closed the event with a live performance. She was introduced by Billboard executive Leila Cobo, who discussed the expanding influence of Latin music.

For BMI, the performance offered a demonstration of the creative community the new office is intended to serve.

For Coral Gables, the company’s arrival adds a global music-rights business to a commercial district already attracting financial, hospitality and professional services firms.

The remaining question is how extensively BMI will build its local operation—and whether its Miracle Mile office becomes a regular gathering place for the songwriters and producers whose work is driving Latin music’s growth.

Author: Coral Gables Gazette News Staff

Originally established in 1996 and relaunched as a digital publication in February 2025, the Coral Gables Gazette is an independent local news organization dedicated to factual, objective and accountable community journalism. Our newsroom reports on the people, policies, institutions and events shaping Coral Gables, Florida, providing residents with timely, informative coverage of the issues affecting their community. Our reporting includes City Hall, local government, municipal elections, public spending, real estate development, business, education, arts and culture, and neighborhood affairs throughout the City Beautiful. We follow City Commission decisions, examine public records and report on the businesses, organizations and individuals contributing to Coral Gables. We believe informed residents are essential to a healthy, engaged community. Stories published under the Coral Gables Gazette News Staff byline are prepared or compiled by the publication's editorial team. We strive for accuracy, fairness, transparency and clear distinctions between news reporting, opinion and advertising. Readers are encouraged to submit news tips, corrections, editorial inquiries and story suggestions through our Contact page and learn more about our standards through our Editorial Policy.