ASCAP Reports 2012 Financials
ASCAP announced yesterday (March 4), it distributed over $827 million in royalties to its members in the calendar year ending 2012, a slight increase over 2011. 2012 became the fifth year in a row that ASCAP has distributed in excess of $800 million to its members. Annual revenues were $941 million, the 3rd highest ever, but down 4.5 percent from 2011.
According to the report, growth in cable revenues (up 20 percent) and continued strength in foreign revenues were the primary factors in mitigating the impact of the radio and background music revenue declines.
ASCAP President and Chairman Paul Williams says, “Our goal in 2012 was to ensure a healthy, steady stream of royalties to our members who depend on ASCAP’s advocacy and collective licensing to pay the rent and put food on the table. We are navigating in a complex, rapidly changing environment in which huge, cash-rich technology companies are developing business models that fly fast and free with our copyrights. ASCAP’s advocacy for our members is, as always, a critical factor in ensuring fair treatment and payment for their work.”
ASCAP continued to upgrade its business systems in 2012 through IT innovations and ongoing, cost-saving operational improvements that resulted in an 11.3 percent operating expense ratio as compared with 12 percent last year.
ASCAP CEO John LoFrumento added, “Looking forward to 2013 and beyond, the news is good. We are poised to return to year-over-year growth in our domestic revenues and with foreign revenues remaining consistently high.
ASCAP expanded its suite of online tools in 2012 including programs ASCAP OnStage, ASCAP Play Music and an enhanced mobile app, which allows access to ASCAP’s tools on any mobile device.
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