ASCAP Breaks $1 Billion Barrier
• ASCAP, The American Society of Composers, Authors and Publishers announced record-high revenues and distributions in 2017. The organization, which currently represents over 660,000 members (including 45,000 new members added in 2017), collected approximately $1.144 billion in revenues last year and distributed for the first time more than $1.007 billion to its songwriter, composer and music publisher members. Total ASCAP revenues increased by 8 percent and distributions were up 10 percent year-over-year.
Revenues from ASCAPs licensing efforts in the US alone grew nearly 11 percent in 2017 to $846 million, up $86.9 million over 2016. Domestic distributions from ASCAP-licensed and administered performances in the US also increased, to $723 million, up 15 percent over 2016.
ASCAP CEO Elizabeth Matthews commented, “ASCAP is privileged to represent the creators of the world’s best-loved music. ASCAP is securing a strong future for our members by successfully closing key licensing deals and launching innovative digital tools that will enhance the lives of our members and make it easier for licensees to do business with us. Our healthy 2017 financial results are proof positive that we are succeeding in our strategic transformation and our mission to support music creators and music publishers for a sustainable future in the digital economy.”
ASCAP President Paul Williams said, “I am gratified by the hard work that the ASCAP team does every day to make it possible for members of ASCAP to make their living as music creators. 2017 was a year of progress on so many fronts at ASCAP, including important deals that keep money flowing back to creators, technological investments that will keep us ahead of changes in the industry and momentum behind our efforts to reform our outdated music licensing system.”
According to the press release, “ASCAP operates on a not-for-profit basis and delivers about 88 cents of every dollar collected back to members for performances of their music. With a 2017 operating expense ratio of about 12 percent, ASCAP remains among the most efficient Performance Rights Organizations in the world, while transforming to stay ahead of massive changes in the music industry.”
