ASCAP said it collected record revenues in 2016, and made record distributions.
The performing rights organization represents 600,000 songwriters, composers and music publishers. It released 2016 financial results and noted that it is in the second year of a six-year “transformation plan” at a time of great change in the music world.
“ASCAP collected record-high revenues of $1.059 billion in 2016 and distributed more than $918 million to its songwriter, composer and music publisher members,” the organization stated. “Distributions were up 5.6% over the prior year.Revenues from ASCAP’s licensing efforts in the U.S. alone grew nearly 6% in 2016 to $759 million, up $42.2 million over 2015, 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.”
Domestic distributions of $631 million from ASCAP-licensed and administered performances in the U.S. grew about 10%.
The organization highlights its operating expense ratio of 12%, which it says makes it among the most efficient performance rights organizations or PROs.
CEO Elizabeth Matthews said that in 2016 alone ASCAP processed over 1 trillion performances.