ASCAP Collections Top $1bn for the Second Consecutive Year

NEWS
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May 12, 2016 — For the second year in a row, the United States Performing Rights Organization (PRO), ASCAP, has reported collection of revenue exceeding $1 billion. The nonprofit returned $867.4 million of that $1.014 billion to its composer, author and publisher members, or 88 cents on the dollar.

Last year, ASCAP became the first PRO in the United States to provide share ownership information in its publicly available online database for the 10 million–plus musical compositions in its repertory.

The sources of the funds include solely domestic collections and all the major revenue sources recorded an increase. For example, the number of performances for which it collected and disbursed payments was 570 billion, up 14%. With regards to funds collected overseas, there was a decline in revenue.

ASCAP’s operating expense ratio saw a decrease while the number of performances tracked, matched, and processed for payment showed an increase.

According to ASCAP, in the audio/visual category—cable, broadcast and online streamers including Amazon and Netflix— ASCAP closed 68 agreements covering 245 programming services.

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About Bob Aroture 555 Articles
Bob is a Senior Editor and Content Development Manager at Nigerian Law Intellectual Property Watch. He holds a BS degree, with a major in biochemistry. He works directly with the Newsroom Team. His focus areas are technology and innovation, and pharmaceutical technology. Email: editorial@nlipw.com