ASCAP REPORTS RECORD '23 REVENUE

For another consecutive year, ASCAP has reported record-breaking financial results, with 2023 revenue topping $1.74b, a $215m jump. The $1.59b available for royalty distribution is also a new high.

The PRO's audio-streaming revenue rose 21%, general licensing climbed 23%, radio revenue was up 10% and audio-visual revenue enjoyed an uptick of 3%. Domestic revenue was $1.33b (up 12.8%), while foreign revenues totaled $410m (up 19.3%).

Meanwhile, ASCAP has welcomed several new artists to its roster, including Jack Antonoff, PinkPantheress, 30 Seconds to Mars' Jared and Shannon Leto and Tyla.

"We are delivering industry-leading technical innovation, legislative advocacy and revenue growth that solely benefits our members, not outside investors or shareholders," said ASCAP CEO Elizabeth Matthews (pictured). "As we like to say, private equity never wrote an iconic love song, which is why we fight purely for songwriters, composers and publishers, not for those who use creators and their works of art for their own profits or to secure their own debt. ASCAP differs from others because our mission and purpose is clear and unique."

Added ASCAP Chairman/President Paul Williams, "ASCAP's mission and not-for-profit business model are more important now than ever before as artificial intelligence transforms the music landscape, and the need for legislative advocacy to protect creators in D.C. has never been more important. ASCAP will always be a champion for the humans who create music and demand transparency and fair payment from those who exploit our work. ASCAP makes it possible for our songwriter and composer members to write the next song, earn a living and support their families. No one else in the industry has the backs of songwriters like ASCAP."