ASCAP Reports Record-Breaking 2019 Revenues And Distributions
ASCAP, The American Society of Composers, Authors and Publishers, reported record-breaking financial results for the fifth year in a row, with total revenues topping $1.274 billion in 2019, a $47 million increase over 2018. Royalty distributions to ASCAP members also hit a record high in 2019 and increased by $75 million, crossing the $1 billion mark for a third year with $1.184 billion in royalties paid out to ASCAP songwriter, composer and publisher members.
Domestic revenue collected by ASCAP in 2019 was $945 million, up $39 million over the prior year, driven in part by an increase in audio streaming which increased 16%. Domestic distributions from ASCAP-licensed and administered performances in the US totaled $869 million, up $55 million over last year. Foreign revenue increased to $329 million and foreign distributions were $315 million, up by nearly $20 million over 2018. ASCAP operates on a not-for-profit basis and distributes all revenues collected, less operating expenses.
“We are pleased to report ASCAP’s strong financial results for 2019, but we know that our members are concerned about the economic impact of the COVID-19 crisis on their royalties in 2020 and beyond,” said ASCAP Chief Executive Officer Elizabeth Matthews. “Fortunately, ASCAP closed a record number of multi-year licensing deals in 2019 and instituted immediate operational changes and expense cuts in early March 2020. As a result of these efforts, while collection efforts are increasingly challenging, our first quarter 2020 royalty distributions have proven to be among our highest ever. Hopefully, this distribution will provide a cushion to members to help weather the storm of COVID-19.”
“Music remains essential to our culture and to humanity. We see it in good times as evidenced by the achievements of our members and ASCAP in 2019, and we see it now, when music creators show their generosity and compassion, even as they struggle with the impact of the COVID-19 crisis on their own lives and livelihoods,” said ASCAP Chairman of the Board and President Paul Williams. “We are proud of ASCAP’s strong 2019 financial results, but our focus now is on the future, and fighting for our members. The ASCAP team is working tirelessly on behalf of our members to navigate through this crisis and protect their livelihoods, even in these challenging times. I am grateful to stand together with so many talented and dedicated members of the ASCAP family, at a time when we need each other more than ever.”
Last year, the performing rights organization invested in state-of-the-art technology systems to process trillions of performances annually. ASCAP also added new members including Mariah Carey, Dua Lipa, Mustard, Charlie XCX, Hayley Kiyoko, Courtney Hadwin, Epikh Pro and composer Siddhartha Khosla (This Is Us). ASCAP also renewed agreements with Billie Eilish, FINNEAS, Louis Bell, Diplo, Ne-Yo, James “Poo Bear” Boyd, Brothers Osborne, Andrew Taggart (The Chainsmokers), Polo G, Tommy “TB Hits” Brown, Scooter Carusoe, Angel Del Villar and Chris Jeday; film/TV composers Michael Giacchino, James Levine and Daniel Romer; and the estates of XXXTentacion and Tom Petty. ASCAP elected 45,875 members in 2019 and the organization is currently home to approximately 750,000 songwriters, composers and publishers.
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