ASCAP, the American Society of Composers, Authors and Publishers Tuesday announced record-breaking revenues of more than $1 billion for calendar year 2014. ASCAP also delivered historic high royalty distributions of over $883 million to its songwriter, composer and music publisher members, up $32.3 million, a nearly 4% increase from 2013.
In addition to historical revenues and record breaking distributions to its members, the number of musical performances captured, identified, matched and processed for payment by ASCAP doubled from 250 billion in 2013 to 500 billion in 2014. Unlike its competitors, ASCAP is an unincorporated membership association and operates on a not-for-profit basis, distributing all revenues after deducting its operating expenses, currently at one of the lowest overhead rates in the world at 12.6%.
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| Paul Williams |
ASCAP President Paul Williams commented: “Our songwriter and composer members depend on ASCAP to earn a living and it is our job to advocate and protect their rights across all media. We maintain a strong presence in Washington, D.C. to ensure they are fairly compensated for their creative work, which is the engine driving the entire industry. I am very gratified that we were able to deliver such strong financial results for the talented women and men who call ASCAP home. From our point of view, if we can ensure fair market rates for our members by working with the Department of Justice to modernize our outdated Consent Decree, then everyone wins – music creators, licensees and fans -- because the value of collective licensing is that strong.”
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