ASCAP post record violations of $ 1.835 billion for 2024

ASCAP has published its annual financial review and reports another year with record income and license fees for its members and generated sales of $ 1.835 billion in the calendar year 2024.

The numbers mark an increase of $ 98 million or 5.7% over 2023 with $ 1.696 billion, which distributed for license fees, by USD 104 million or 6.5%. This is the highest amount of income and license fees for the Creators and music publisher reported by ASCAP, which are powered by sales growth and the lowest total cost allocation in the USA.

ASCAP delivers 90 cents of each dollar that was collected to its members as license fees, and does not calculate a commission or does not take a profit. Instead, according to its unique governance and operating principles, it must deduct expenses and then distribute remaining dollars to its members as license fees.

“For songwriters, composers and publishers, ASCAP offers the best return for your performance license fees because you receive 90 cents of every dollar we collect. It's so easy. We are the only US professional who does not make a profit, and the only one who can credibly say that we put the creators into everything we do, ”said Ascap CEO Elizabeth Matthews.

The company increased the value and monetization of the music of its members with domestic income from the a total of $ 1.397 billion licensed in the USA, an increase of $ 5.3%or $ 71 million. The income from the streaming of audio, audio visuals and general licensing has increased the increase. The strength of domestic sales led to a growth of the funds available for domestic distributions by 5.5%, which was $ 1.284 billion. Of these, 53 million US dollars were distributed by SongwizeThe ASCAP license administration service, which is made available to ASCAP members, who directly license your work.

The collections for foreign sales also rose to a total of $ 438 million, $ 28 million or 6.8%, with $ 411 million being distributed for the license fee, which is available by an increase of 9.8% by $ 37 million.

In the 10th year of its strategic growth plan, ASCAP achieved a composite annual growth rate (CAGR) for the total turnover of 7%. And a CAGR of 8%for the overall distribution. While every other US professional is now a private equity ownership, ASCAP is the only one who owes no payouts to private investors or shareholders and makes writers and publisher members the sole beneficiary of the growth of ASCAP.

“ASCAP is committed to innovation, growth and development in a way that benefits our members because music creators are promoting any decision we make. Protecting the livelihood of songwriters and composers and the defense of the music value is a mission that we take seriously. For us, this is more than just business – it is personal, and that distinguishes ASCAP from any other professional, ”said ASCAP chairman of the board and president Paul Williams.

Hollabaugh, Musicrow Magazine employee, has more than 20 years of music business experience and wrote for publications such as American Profile, CMA Close Up, Nashville Arts and Entertainment, The Boot and Country Weekly. She has a degree in radio journalism and voice communication from Texas Christian University (Go Horned Frogs) and welcomes your feedback or story ideas at lhollabaugh@musicrow.com.

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