New York, NY (Top40 Charts) Today, the American Society of Composers Authors and Publishers (ASCAP) announced that John LoFrumento, Chief Executive Officer of ASCAP for the past 17 years, has decided to retire as of January 1st. LoFrumento has served the members of ASCAP since 1981, when he first joined the executive team as Controller. He then served as CFO, COO and EVP, and was named CEO in 1997. LoFrumento's successor will be named shortly.
As CEO, LoFrumento helped ASCAP develop one of the most sophisticated technology platforms for performance tracking and royalty distributions across all media. At the same time, ASCAP's membership and distributions grew exponentially from 70,000 members in 1997 with distributions totaling $417 million to 520,000 members today with 2014 distributions to exceed $875 million. ASCAP licenses the most-performed repertory globally, with 10 million compositions created by the best-loved songwriters and composers as members, including such modern hit-makers as Beyonce, Max
Martin (STIM), Dr. Luke, Dierks Bentley, Katy Perry, Enrique Iglesias,
Lorde (APRA), Justin Timberlake, Drake,
Brad Paisley and many more.
"When I became CEO in 1997, we set a course aimed at transforming ASCAP into a new kind of organization that would be ready to meet the demands of the 21st century, and I am so proud of what we have achieved," said LoFrumento. "Through a commitment to innovation and continuous improvement in all areas of our operation, ASCAP has become the world's most sophisticated and efficient music rights organization, home to more than 520,000 of the world's greatest music creators. And I am able to retire with tremendous confidence in ASCAP's future, knowing that the Board's search for a new CEO is well underway."
"Under John's leadership, ASCAP's innovations and embrace of new technologies have shaped the evolution of performing rights worldwide," said ASCAP President and Chairman Paul Williams, an award-winning songwriter. "John is an extraordinary advocate for music creators, and his accomplishments and vision will have a lasting impact on the music industry for years to come."
LoFrumento's tenure at the helm of ASCAP also includes many "firsts" within the music industry, among them the creation and growth of MusicPro Insurance, the first and only affordable insurance agency for music professionals; the ASCAP "I Create Music" EXPO, the first and only national conference with a 100% focus on music creation; the first
Internet license for music performances online issued in 1995, and many others. LoFrumento has also been instrumental in ASCAP's efforts to update ASCAP's decades-old Consent Decree with the U.S. Department of
Justice to better reflect the way people consume music in the digital age, ensuring that the nation's songwriters are compensated for the true value of their work in the marketplace.
LoFrumento represents ASCAP as a member of CISAC's Board of Directors (Confederation International des Societies D'Auteurs et Compositeurs), is the Chairman of its Finance Committee, and has served as Chairman of the CISAC Canada/USA Committee. In addition, he is a member of the Board of Directors and Chairman of the Finance Committee of FastTrack, a global alliance of leading music copyright societies. He is a member of the Board and Chairman of the Finance Committee of the Songwriters Hall of Fame, and CEO of MusicPro Insurance. The
National Music Publishers Association recognized LoFrumento for his leadership in 2003 with the NMPA President's Award.
A graduate of Hunter College and a New York
State Certified Accountant, LoFrumento served as Vice President and Controller of the Travelers Cheque Division of the American Express Company prior to joining the ASCAP management team. He currently resides in Scarsdale, New York with his wife, Barbara.
See below for John's full statement, or read it here: https://www.ascap.com/playback/2014/12/action/john-lofrumento-memo-to-staff
About ASCAP
The American Society of Composers, Authors and Publishers (ASCAP) is a professional membership organization of songwriters, composers and music publishers of every kind of music. ASCAP's mission is to license and promote the music of its members and foreign affiliates, obtain fair compensation for the public performance of their works and to distribute the royalties that it collects based upon those performances. ASCAP members write the world's best-loved music and ASCAP has pioneered the efficient licensing of that music to hundreds of thousands of enterprises who use it to add value to their business - from bars, restaurants and retail, to radio, TV and cable, to Internet, mobile services and more. The ASCAP license offers an efficient solution for businesses to legally perform ASCAP music while respecting the right of songwriters and composers to be paid fairly. With over 520,000 members representing more than 10 million copyrighted works, ASCAP is the worldwide leader in performance royalties, service and advocacy for songwriters and composers, and the only American performing rights organization (PRO) owned and governed by its writer and publisher members. www.ascap.com
