ASCAP Increases Royalty Payouts to Artists in 2015 6.2% on $1 Billion-Plus Revenue
The American Society for Composers, Authors and Publishers (ASCAP) generated more than $1 billion in royalty revenue in 2015, up slightly from the $1 billion-plus in revenue the performing rights organization generated in 2014, ASCAP said Thursday. ASCAP’s domestic royalty…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
revenue rose to $716.8 million in 2015, up $61 million from 2014. ASCAP said its domestic royalty distribution to performing artists and other music creators rose to $573.5 million, up 6.2 percent from 2014. It said it returned almost 88 cents of every dollar in collected royalties back to music creators and kept the remaining 12.3 cents per dollar for operating expenses. “We are doing the best job possible for our songwriter and composer members even as we advocate for changes to the outdated music licensing laws that disadvantage songwriters in the today’s digital world,” said President Paul Williams in a news release. “While the music industry is in the midst of tremendous change, ASCAP has stayed ahead of the curve with a strategic focus on revenue growth, operational efficiencies, technology and service innovations demonstrating that the collective licensing model delivers the best value proposition in the performing rights world,” said ASCAP CEO Elizabeth Matthews.