ASCAP Reports Almost $1.6 Billion in Revenue for 2016
The American Society of Composers, Authors and Publishers collected almost $1.6 billion in revenue in 2016 and distributed $918 million to its songwriter, composer and music publisher members, the performing rights organization (PRO) said Wednesday. ASCAP said its licensing revenue…
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increased almost 6 percent year-over-year to $759 million because of a 41 percent increase in revenue from audio streaming services and increased revenue from satellite radio services. The PRO's foreign revenue increased to $300 million, up $1.5 million over its 2015 foreign revenue total. 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,” said CEO Elizabeth Matthews in a news release.