ASCAP increases revenues during pandemic

ASCAP increases revenues during pandemic

ASCAP collected more than $1.327 billion in revenues in 2020, a $53 million increase over 2019.

Despite the impact of the pandemic on collections globally, ASCAP had significant increases in domestic and foreign revenues.

Domestic revenue for 2020 was up by 2.5% year-on-year at $969m. The growth of domestic revenue was driven in part by gains of 28% in audio streaming revenue and 8% in audio/visual, matching shifting music consumption trends during the pandemic.

ASCAP’s strategy to mitigate the impact of Covid-19 helped to offset declines in other sectors, including a 30% drop in revenues from businesses that were shut down or at reduced capacity during the last three quarters of 2020, such as live concerts and events, music venues, bars, clubs, restaurants, retail stores, hotels and more. 

During a time period in which the global pandemic directly affected revenues for many companies that license music, ASCAP grew royalties for its songwriter, composer and publisher members by $29m, or 2.5%, for a total of $1.213 billion available for distributions. Domestic distributions from ASCAP-licensed and administered performances hit $891m, an increase of $22m, and foreign distributions totaled $322m.

ASCAP operates on a not-for-profit basis and distributes all revenues collected, less operating expenses.  

"2020 challenged all of us unlike any other year in modern history. It also defined ASCAP’s dedication to our members,” said ASCAP CEO Elizabeth Matthews. “That meant strengthening our commitment to our mission to serve our songwriters, composers and music publishers by taking every step necessary to secure their livelihoods and careers. Inspired by our members each and every day, the ASCAP team proved that innovation, efficiency and progress really can be escalated in a crisis."

“I am so impressed by ASCAP and its extraordinary efforts in 2020,” said ASCAP chairman of the board and president Paul Williams. “The team worked extremely hard and under incredibly difficult circumstances to make up for revenues lost due to the pandemic and to deliver the financial security and support that music creators need to survive the crisis of our lifetime. Their work will have an impact for years to come and as an ASCAP member, I am deeply grateful. Together, we have met the demands of this challenging time period and we look to 2021 with greater hope and strength as a community.”

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