ASCAP reported record revenue for 2021, collecting $1.335 billion.
The American Society of Composers, Authors and Publishers said, “Increases in collections from the audio streaming and audio-visual sectors pushed ASCAP’s domestic revenue to $1.011 billion in 2021, up 4.4%, an increase of $42.5 million over 2020. This was the first year that ASCAP domestic revenues from U.S.-licensed performances surpassed $1 billion.”
It said the strategic growth plan it launched in 2015 has driven revenues to grow at a 5% compound annual growth rate since then.
“ASCAP’s identification, matching and processing of trillions of musical performances drove record-setting distributions that exceeded $1 billion for the fifth year in a row and increased $41 million over the previous year, for a total oaf $1.254 billion available for distribution to its more than 850,000 songwriter, composer and publisher members in 2021.”
It said the total available for domestic distributions of licensed and administered performances was $912.6 million, a 2.4% increase over 2020. It said strong domestic performance offset a drop in revenue from foreign societies of 9.7% “due largely to business closures and the lack of vaccinations.” But its international distributions were up 5.9%.
Its annual report is posted at www.ascap.com/annualreport.
