NEW YORK (ASCAP) - ASCAP (American Society of Composers, Authors and Publishers) marked its 91st year of operation with a 14.9% royalty payment increase to the Society's songwriter, composer and publisher members. The member distribution total of $610 million was the highest ever in ASCAP's history. Domestic distributions totaled $432.7 million, an increase of 13.4% versus prior year. And, foreign distributions grew by a significant 18.5% to a total of $177.3 million.
Over the past four years, ASCAP has distributed over $2.2 billion to its members, more than any performing rights organization has ever achieved either in the U.S. or in the world.
"Our success can be attributed to the growing popularity of our members' music, our commitment to negotiating the best licensing deals for our members, the development of new media, the implementation of cutting-edge technology, and our continuing efforts to operate the Society as efficiently as possible," said ASCAP CEO John LoFrumento. "The result is that we're putting about 15% more money into the pockets of our talented and hard working members."
ASCAP collected nearly $700 million in 2004; $493 million from domestic sources and close to $206 million from foreign. Due to the global popularity of ASCAP's music creators - and aided by favorable exchange rates - ASCAP's 2004 international revenues were up 14% over the prior year, and up 39% since calendar year 2002.
While revenues and distributions have reached an all-time high, the society's operating costs are at an all-time low of 13.5%, one of the lowest operating ratios in the world for a performing rights organization, and the lowest by far in the U.S.
ASCAP's leadership in the areas of licensing and technology continues to provide unprecedented income opportunities for its members. A new broadcast licensing agreement reached last year lead to the largest single licensing deal in radio history - totaling in excess of $1.7 billion. And, ASCAP members are already enjoying the additional benefits afforded by the incorporation of Mediaguide data into ASCAP's radio survey. The data received from Mediaguide will help reduce ASCAP's operating expenses while significantly increasing the scope of its surveys. Mediaguide's proprietary technology monitors nearly 2,500 radio stations across the United States, and over 3.5 million sound recordings have been fingerprinted and are in the Mediaguide database.
"It is especially gratifying to report these record financial results in this new millennium, which has been marked by a great deal of apprehension about the future of the music business," added LoFrumento. "It shows that ASCAP and performing rights are uniquely positioned for future growth and remains as relevant to our members' livelihoods today as we were in 1914 when we were founded."
ASCAP demonstrated strength in 2004 with its members' music once again dominating both the charts and major music awards shows with outstanding achievements by Beyonce, Johnny Cash, Kenny Chesney, Ornette Coleman, Green Day, Jay-Z, Alicia Keys, John Mayer, Paul Moravec, OutKast, Rascal Flatts, Hoobastank, John Rich from Big & Rich, Joan Sebastian, Howard Shore, U2 (PRS), Usher, Gretchen Wilson, Yellowcard, and many more. ASCAP's film and television music composers also had an exceptional year having scored six out of the top ten feature films including Randy Newman (Meet The Fockers), and John Debney (The Passion of the Christ), and 16 out of the top 20 television series including David Vanacore and Russ Landau (Survivor), Rick Marotta (Everybody Loves Raymond) and Michael Giacchino (Lost). And, on Broadway, Stephen Sondheim (Assassins), Stephen Schwartz (Wicked), Jeanine Tesori and Tony Kushner (Caroline, or Change), and Leonard Bernstein, Betty Comden and Adolph Green (Wonderful Town) were among the ASCAP members who received honors.
New additions to the ASCAP family in 2004 included Andrew Adamson, Monchy y Alexandra, Lance Bass, Stephen Bishop, Jeremy Camp, Ciara, Franz Ferdinand (PRS), Leonel Garcia from Sin Bandera, The Killers, Diana Krall (SOCAN), Lindsay Lohan, Smokie Norful, Kenny Rankin, LeAnn Rimes, Adonis Shropshire, Nina Sky, Tisuby y Georgina, John Waite, Daddy Yankee, among others.
