ASCAP’s Annual Distributions Cross $1 Billion Mark For Second Straight Year
ASCAP has released figures from 2018 and announced its annual total revenues for the year topped $1.227 billion, marking an increase of 7% over 2017. The company’s distributions also crossed the $1 billion mark for the second year in a row, with $1.109 billion in royalties paid out to its songwriter, composer and publisher members. Distributions increased by $102 million, up 10% year-over-year.
ASCAP domestic revenue from US music licensing surpassed the prior year by 7% to hit $906 million. Audio Streaming revenue was up by 25% and Audio Visual by 7% year-over-year. General and Background revenue, which encompasses more than 800,000 bars, grills, taverns, hotels, retail stores, fitness centers and other businesses, grew by 9%.
ASCAP secured a total of $321 million in 2018 foreign revenue, an increase of 7% over the prior year. Domestic distributions from ASCAP-licensed and administered performances in the US increased to $814 million, up 12.5% over 2017. Foreign distributions totaled $295 million, an increase of 4%.
The number of individual music performances processed by ASCAP’s proprietary data matching systems skyrocketed into the trillions in 2018. The company also decreased its operating expense ratio for the second consecutive year, with nearly 90 cents of each dollar collected going back to its music creator members.
“ASCAP’s outstanding 2018 results were driven by our team’s laser focus on making smart, strategic deals to yield growth and stability for our members,” said ASCAP Chief Executive Officer Elizabeth Matthews. “Four years into our six-year strategic plan, we are seeing healthy year-over-year compound annual revenue growth rates averaging 7%. In 2018 alone, our commitment to efficiency and innovation allowed us to pay more than $100 million more to our members in distributions than the prior year all while we continue to take the steps necessary to protect their future. Above all, we owe our success to the popularity of the ASCAP music repertory, which is beloved and enjoyed by listeners around the world on every platform.”
Major music creators entered into agreements with ASCAP in 2018 including Migos, Cardi B, Alicia Keys, Louis Bell, Starrah, St. Vincent, Savan Kotecha, Greg Kurstin, French Montana, Miguel, Mike Will Made-It, Kehlani, Calvin Harris, Gucci Mane, Marco Antonio Solís, Goldlink, Meek Mill, Jared Gutstadt, Ashley Gorley, Joseph Trapanese, David Vanacore, James Taylor, Lil Uzi Vert, Lil Baby, Natti Natasha and the estates of Bob Marley and George Michael. Total ASCAP membership increased by approximately 46,000 in 2018 and currently stands at more than 700,000 songwriters, composers and publishers.
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