ASCAP, The American Society of Composers, Authors and Publishers, the world leader in performing rights and advocacy for music creators, announced record-high revenues and distributions in 2017. The organization, which today represents more than 660,000 members, 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 ASCAP’s licensing efforts in the US alone grew nearly 11 percent in 2017 to $846 million, up $86.9 million over 2016.
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| Elizabeth Matthews |
ASCAP Chief Executive Officer 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.”
Among the deals the performance rights organization is benefiting from is an agreement struck in Dec. 2016 with the Radio Music License Committee. Covering the 2017-2021 term, the deal boosted the amount of money paid by radio stations for use of ASCAP’s 11.5 million song repertoire.
In addition to broadcast radio, ASCAP also collected more royalties from music streaming services and other audiovisual media. That includes a new licensing agreement with YouTube that in addition to paying songwriters more will also give ASCAP additional data which it says will improve the accuracy and reliability of the metadata attached to musical works.
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