ASCAP (TheAmerican Society of Composers, Authors and Publishers), announces it distributed over $827 million in royalties to its songwriter, composer and publisher members in 2012, a slight increase over 2011. Also, 2012 became the fifth year in a row that ASCAP distributed in excess of $800 million to its members. At $941 million, annual revenues were strong - the third highest ever - but down 4.5 percent from 2011.
Growth in cable revenues and continued strength in foreign revenues were the primary factors in mitigating the impact of the radio and background music revenue declines. Due to continued industry growth and several major settlements, cable revenues were up 20 percent. ASCAP also saw revenue growth in new media and general licensing categories, including bars and grills, hotels and pop concerts.
ASCAP President/Chairman Paul Williams commented, "Our goal in 2012 was to ensure a healthy, steady stream of royalties to our members who depend on ASCAP's advocacy and collective licensing to pay the rent and put food on the table. The music of our members is more popular than ever all around the world, especially through the proliferation of online and wireless services. We are navigating in a complex, rapidly changing environment in which huge, cash-rich technology companies are developing business models that fly fast and free with our copyrights. Only a thriving community of songwriters and composers - who can make a decent living from their work - can ensure a vibrant music eco-system going forward. ASCAP's advocacy for our members is, as always, a critical factor in ensuring fair treatment and payment for their work."
ASCAP CEO John LoFrumento noted: "Looking forward to 2013 and beyond, the news is good. We are poised to return to year-over-year growth in our domestic revenues and with foreign revenues remaining consistently high, we are looking forward to a bright future for our members in the coming years. Our members depend on our ability to provide the most effective licensing and global administration of performance royalties as well as the fairest, fastest, highest payments possible. Through recent advancements in our state-of-the-art distribution technology, which is unparalleled anywhere in the world, we see great opportunity to provide the best advanced administrative and rights management services to creators and copyright owners - large and small."
The complete ASCAP report on 2012 can be read here.