ASCAP Announces Strong Revenues In 2013
In addition to celebrating its 100th birthday today, Feb. 13, ASCAP announced strong revenues in 2013, distributing over $851.2 million in royalties to songwriters, composers and publishers, marking an increase of nearly $24 million over 2012. ASCAP’s domestic distributions increased 6.1%, totaling $527.9 million. In 2013, the organization distributed more than $800 million to its members for the sixth consecutive year; ASCAP is the only performing rights organization to accomplish this feat.
“Nearly 500,000 of my fellow songwriters, composers and music publishers depend on ASCAP to collectively license their work and collect public performance royalties, which are becoming a more vital source of income in the digital age,” said ASCAP President and Chairman Paul Williams. “As we celebrate our centennial, we believe it is time to update the regulations that govern music licensing. ASCAP is working to shape a future which preserves the enormous benefits of the collective licensing model, while better reflecting how technology is changing the way people listen to music and the competitive landscape in which we operate.”
In 2013, ASCAP boasted $944.4 million in revenues, with a $13.2 million increase in domestic receipts as a result of the organization’s new media and general licensing sectors. ASCAP also reports strong foreign revenues of $330.6 million. The organization’s operating ratio for 2013 was 12.4% (11.3% in 2012) due to expenses resulting from ASCAP’s current legal battle with Pandora Media.
“Our strong performance in 2013 further demonstrates why ASCAP is uniquely suited to serve the needs of both music creators and licensees in the digital future,” said ASCAP CEO John LoFrumento. “I believe ASCAP’s ability to transparently and efficiently track and distribute performance royalties using the most advanced technology is unmatched within the industry, as is our commitment to nurturing and advocating on behalf of our community of members. I am thrilled that in our 100th year, ASCAP is still breaking new ground toward a more transparent, efficient and effective music licensing system.”
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