ASCAP Paid Out $851 Million In Royalties In 2013
February 13, 2014 at 3:44 AM (PT)
ASCAP's 2013 royalty payments were up $24 million from 2012, with $851 million paid to songwriters, composers and publishers.
The performing rights organization reported revenues of $944.4 million in 2013, with a $13.2 million increase in domestic receipts. Operating ratio stood at 12.4%, up from 11.3% in 2012.
“Nearly 500,000 of my fellow songwriters, composers and music publishers depend on ASCAP to collectively license their work and collect public performance royalties, which are becoming a more vital source of income in the digital age,” said ASCAP Pres./Chairman PAUL WILLIAMS. “As we celebrate our centennial, we believe it is time to update the regulations that govern music licensing.