ASCAP Reports Growth In Royalties

ASCAP, the group that is responsible for collecting royalty payments for musicians is reporting significant growth in 2009, rising to $995 million for its 380,000 members and paying out $863 million in royalties. This is up from $819 million in 2008 and $741 million in 2007. Foreign revenue was the largest area of growth with $302 million up from $265 million in 2008.

ASCAP CEO John LoFrumento had this comment on the performance:

“Music is performed more often, in more places, in more ways by more businesses than ever before. That expanded music use, combined with dramatic ASCAP Membership growth, market share increases and effective strategic management have led to stunning revenue and distribution growth for 2009.”

However, LoFrumento went on to caution:

“Looking to 2010 and beyond, our challenge is to obtain fair rates for the increasingly valuable public performance right over Internet and wireless devices. Because we are an organization of and for songwriters, composers and publishers, ASCAP is taking the leadership role in advocating for copyright and the livelihood it makes possible for music creators.”

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• Find out more about ASCAP and how it can help your career.