ASCAP, The American Society of Composers, Authors and Publishers, right this moment introduced record-high revenues and distributions in 2017. The group collected roughly $1.144 billion in revenues final yr and distributed — for the primary time — greater than $1.007 billion to its 660,000 songwriter, composer and music writer members. Whole ASCAP revenues elevated by eight p.c and distributions have been up 10 p.c year-over-year, in response to the announcement.
Revenues from ASCAP’s licensing efforts within the US alone grew practically 11 p.c in 2017 to $846 million, up $86.9 million over 2016. Home distributions from ASCAP-licensed and administered performances within the US additionally elevated, to $723 million, up 15 p.c over 2016.
ASCAP Chief Govt Officer Elizabeth Matthews (pictured above) commented: “ASCAP is privileged to characterize the creators of the world’s best-loved music. ASCAP is securing a robust future for our members by efficiently closing key licensing offers and launching revolutionary digital instruments that may improve the lives of our members and make it simpler for licensees to do enterprise with us. Our wholesome 2017 monetary outcomes are proof optimistic that we’re succeeding in our strategic transformation and our mission to assist music creators and music publishers for a sustainable future within the digital economic system.”
ASCAP President Paul Williams stated: “I’m gratified by the laborious work that the ASCAP crew does every single day to make it attainable for members of ASCAP to make their residing as music creators. 2017 was a yr of progress on so many fronts at ASCAP, together with essential offers that maintain cash flowing again to creators, technological investments that may maintain us forward of adjustments within the business and momentum behind our efforts to reform our outdated music licensing system.”