Wednesday, April 5, 2017

ASCAP Reports Record $1B Revenue Fueled By 41% Increase In Streaming Income | hypebot

Ascap-new logoASCAP has announced the collection of record-high revenues of $1.059 billion in 2016 and distributed more than $918 million to its songwriter, composer and music publisher members.  Distributions were up 5.6% over the prior year.

Revenues from ASCAP’s licensing efforts in the U.S. grew nearly 6% in 2016 to $759 million, up $42.2 million over 2015, fueled primarily by a 41% increase in revenues from audio streaming services as well as higher revenues from satellite radio and general licensees, such as bars, clubs and concerts. 

Foreign revenues totaled $300 million, up $1.5 million year over year in U.S. dollars. ASCAP's international revenues would have exceeded last year’s performance by $12.9 million had it not been for the strengthening U.S. dollar which resulted in lower foreign exchange rates. 

Domestic distributions of $631 million from ASCAP-licensed and administered performances in the U.S. grew nearly 10%, up $55.5 million over 2015.

ASCAP has 6000,000 members and operates on a not-for-profit basis with a 2016 operating expense ratio of about 12%.

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