ASCAP, the only not-for-profit performance rights organization in the U.S., which — after covering its overhead — shells out all of its collections to songwriters and publishers, reports revenue increased 5.7% to 1.835 billion from the prior year’s total of $1.737 billion. What’s more the PRO said the amount of its collections available for distribution totaled $1.696 billion, or a 6.5% increase over 2023’s total of $1.592 billion.
Out of that collected revenue, domestic royalties totaled $1.397 billion, up 5.3% from the 2023’s total of 1.327 billion; while foreign receipts grew 6.8% to $438 million, up 6.8% from the prior year’s total of $410 million. Put another way, domestic revenue comprised 76.1% of collections while foreign receipts comprised 23.9%.
ASCAP said its compound annual growth rate (CAGR) for total revenue for the 10 years leading up to 2024 was 7%, and that the CAGR for total distributions over the same time period was 8%. Its overhead expense structure remains at about 10%.
“For songwriters, composers and publishers, ASCAP provides the best return on their performance royalties because they get 90 cents of every dollar we collect,’ ASCAP CEO Elizabeth Matthews said in a statement. “It’s that simple. We are the only US PRO that does not take a profit and the only one that can credibly say we put creators first in everything we do.”
In 2023, BMI, ASCAP’s main competitor and the only other U.S. PRO operating under a U.S. Dept. of Justice consent decree, abandoned its not-for-profit status in order to sell to a private equity firm, which occurred in 2024 when New Mountain Capital acquired the collection society. Besides BMI, both SESAC and GMR, aka Global Music Rights, are both for-profit performance rights organizations.
Breaking out its total $1.696 billion available for distributions, ASCAP reported that $1.284 billion was due to domestic songwriters and publishers while $438 million was available for foreign distributions. Overall, its domestic collections available distribution increased 5.5% from the prior year’s total of $1.217 billion, while foreign distribution availability increased 9.8% from $375 million in 2023.
Looking at its activities over the last year, ASCAP reported that signings and renewals include Katy Perry, Timbaland, Kacey Musgraves, Jack White, Justin Tranter, Neil Young, Graham Nash, Def Leppard, Sexyy Red, Max Martin, Hans Zimmer and Tate McRae; along with the estates of Tom Petty and Jimi Hendrix.
ASCAP said it was active in helping to shape the U.S. Copyright’s Office recommendations on legal and policy issues related to copyright and AI; and formed a strategic alliance with SACEM, France’s collection management organization, to leverage their investments in infrastructure. Finally, ASCAP reported that it moved quickly to launch a $1 million emergency relief fund to assist Los Angeles-based ASCAP songwriter affected by the LA wildfires.
“ASCAP is committed to innovating, growing and evolving in ways that benefit our members, because music creators drive every decision we make,” ASCAP president and chairman of the board Paul Williams said in a statement. “Protecting the livelihoods of songwriters and composers and defending the value of music is a mission we take seriously. For us, this is more than just business – it’s personal, and that’s what sets ASCAP apart from any other PRO.”