ASCAP 2022 Revenue Passes $1.5 Billion Mark

2022 Increases

ASCAP 2022 revenue hit $1.522 billion, up 14% year-over-year and the first time revenue broke the $1.5 billion mark. Domestic revenue rose 16.5% to $1.178 billion, with general licensing revenue up 40%, radio by 32%, audio streaming by 16%, and audio-visual by 7%. Royalty distributions rose 10.7% to $1.388 billion, the sixth consecutive year distributions exceeded $1 billion, while funds for domestic distributions rose 14.9% to $1.048 billion. Foreign revenues increased 6.3% to $344 million, with international distributions reaching $340 million.

CEO ELIZABETH MATTHEWS said, "It is our technical innovation coupled with an unparalleled work ethic that grew our domestic revenue 16.5% in 2022 and yielded a 6% compound annual growth rate since the inception of our strategic plan eight years ago. ASCAP is the only US PRO that operates on a not-for-profit basis which is a key differentiator among PROs. ASCAP creator and publisher members are the sole beneficiaries of this growth because we invested years ago in cloud computing, enabling us to address the challenges of digital streaming efficiently, and because we only pay songwriters and publishers, not private investors.”

“We are elated to share these historic financial revenue and distribution results for 2022 with our songwriter, composer and publisher members, who are the foundation of the music we all love,” said Chairman of the Board/President PAUL WILLIAMS. “In the US, we have competition, meaning that creators have a choice, and that choice should be ASCAP. It is in ASCAP’s DNA to ensure that we operate in the best interest of all our members. Our financial success for over 100 years, and a singular commitment to nurture their careers and maximize the value of their music, prove that our not-for-profit model of collective licensing works.”

« see more Net News