The American Society of Composers, Authors and Publishers, better known as ASCAP, reported the organization generated more than $1 billion in revenues for 2014.
ASCAP also distributed more than $883 million in music royalties to its members, up $32.3 million from the year before, a nearly 4% increase.
Digital services like Pandora, Apple iRadio, Spotify and Rhapsody are responsible for a lot of that uptick; ASCAP identified more than 1.3 million unique works played on these services, 30 times more than in 2013.
The news comes as the Justice Dept. has been reviewing whether to change how ASCAP’s music royalties rates are set.
ASCAP President Paul Williams said “If we can ensure fair market rates for our members” by working with the DOJ “to modernize our outdated Consent Decree, then everyone wins … because the value of collective licensing is that strong.”