ASCAP annual revenue breaks $1B again

ASCAP posted more than $1 billion in revenue for the second consecutive year, but its total payouts to the music industry declined from 2014. The performing rights organization posted revenue of $1.014 billion in 2015, up slightly from its 2014 results, when revenue scraped past $1 billion for the first time. However, its 2014 royalty payouts to songwriters, composers, and publishers were more than $883 million; in 2015, it dropped to $867.4 million.

However, domestic distributions increased 6.2% on year to $573.5 million. ASCAP said the strength of the U.S. dollar against foreign currencies was responsible for the decline in revenues outside the country.

Despite that uneven currency situation, ASCAP’s other numbers showed growth. The stable of songwriters represented increased, with “more than 525,000” mentioned in 2014 and 560,000 in 2015. The number of performances tracked also rose from 500 billion to 570 billion.

“2015 was a winning year for ASCAP members, who are the heart and soul of our organization,” CEO Elizabeth Matthews said. “While the music industry is in the midst of tremendous change, ASCAP has stayed ahead of the curve with a strategic focus on revenue growth, operational efficiencies, technology and service innovations demonstrating that the collective licensing model delivers the best value proposition in the performing rights world.”