ASCAP has announced record-breaking revenue and distribution figures for 2016.
Revenues tipped $1.059 billion last year, up 4.3% on 2015, and the third year in a row collections topped $1bn.
Distributions to its songwriter, composer and publisher members in the year were up 5.6% to $918 million.
Cash earned from ASCAP’s licensing efforts in the US alone grew nearly 6% in 2016 to $759m, up $42.2m over 2015.
That was fueled primarily by a 41% increase in revenues from audio streaming services as well as higher revenues from satellite radio and General Licensees, such as bars, clubs, restaurants, hotels, live concerts and more.
Foreign revenues totaled $300m, up $1.5m year over year in US dollars.
ASCAP says its international revenues would have exceeded last year’s performance by $12.9m had it not been for the strengthening US dollar which resulted in lower foreign exchange rates.
Domestic distributions of $631m from ASCAP-licensed and administered performances in the US grew nearly 10%, up $55.5m over 2015.
ASCAP CEO Elizabeth Matthews (pictured) said: “ASCAP’s record high revenues and distributions in 2016 are a testament to the amazing repertory of music we are privileged to represent, and to our investment in innovations that enable us to continue to grow revenues, leverage our scale and increase efficiencies in our operations.
“In 2016 alone, we processed over one trillion performances, welcomed 40,000 new members, and secured a steady stream of future royalties for our members by closing multi-year deals across all major platforms, including satellite and terrestrial radio.”
elizabeth matthews, ascap
“ASCAP is committed to transforming and innovating to secure a healthy future for music creators and publishers.
“In 2016 alone, we processed over one trillion performances, welcomed 40,000 new members, and secured a steady stream of future royalties for our members by closing multi-year deals across all major platforms, including satellite and terrestrial radio.”
ASCAP President and Chairman Paul Williams added: “ASCAP’s strong financial results matter for each and every songwriter, composer and music publisher who makes a living from our creative work, from those just starting out to those whose music is beloved around the world.
“I am incredibly proud that ASCAP continues to lead the fight for much-needed changes to US music licensing regulations that are grossly unfair to songwriters and copyright owners.”
paul williams, ascap
“I am also incredibly proud that ASCAP continues to lead the fight for much-needed changes to US music licensing regulations that are grossly unfair to songwriters and copyright owners.”
Last year, ASCAP songwriters wrote or co-wrote nine of the top 10 songs on the Billboard Hot 100 year-end chart, and wrote 14 of Billboard’s year-end chart-topping songs.
Those included tracks from Justin Bieber, Noah “40” Shebib, Justin Timberlake, Max Martin, Shellback, Enrique Iglesias, Matt Crocker, Salomon Ligthelm and Matthew West.
In 2016, ASCAP renewed agreements with artists like Kelly Clarkson, Max Martin, Paul McCartney, Katy Perry, Lionel Richie, Skrillex, Timbaland, Hans Zimmer and the estate of Johnny Marks.
Music Business Worldwide
