ASCAP Revenue Passes $1.3 Billion
• ASCAP, The American Society of Composers, Authors and Publishers announced record-setting financial results for 2021, as the ASCAP team drove total revenue collected to a historic high of $1.335 billion.
Increases in collections from the audio streaming and audio-visual sectors pushed ASCAP’s domestic revenue to $1.011 billion in 2021, up 4.4%, an increase of $42.5 million over 2020. This was the first year that ASCAP domestic revenues from U.S.-licensed performances surpassed $1 billion. Since the start of ASCAP’s strategic growth plan in 2015, ASCAP revenues have enjoyed a 5% compound annual growth rate and ASCAP members have benefited from a 6% compound annual growth rate in overall distributions, and an 8% compound annual growth rate in domestic distributions.
ASCAP’s identification, matching and processing of trillions of musical performances drove record-setting distributions that exceeded $1 billion for the fifth year in a row and increased $41 million over the previous year, for a total of $1.254 billion available for distribution to its more than 850,000 songwriter, composer and publisher members in 2021.Total monies available for domestic distributions of licensed and administered performances amounted to $912.6 million, a 2.4% increase of $22 million over 2020.
“The ASCAP team is dedicated to building a future of opportunity for our songwriter, composer and music publisher members,” said ASCAP CEO Elizabeth Matthews. “We know music creators have been deeply affected by the pandemic, and that’s why it’s so important that ASCAP has delivered more royalties to our members when they need it most. Through our licensing, advocacy and wellness efforts, we strive to provide both economic and emotional support to our members to help them weather these challenging times and to create a brighter future.” The ASCAP 2021 Annual Report can be viewed at ascap.com/annualreport.
