03.04.2013 03:53 PM
ASCAP Reports 2012 Financials
Strong cable revenues keep royalties up
NEW YORK— The American Society of Composers, Authors and Publishers says it has distributed over $827 million in royalties to its songwriter, composer and publisher members in 2012.
ASCAP anticipated revenue declines from the radio industry as well as settlements with background music services resulting from the DMX rate court decision; at $941 million, annual revenues were the third highest in its history but down 4.5 percent from 2011.
“Our goal in 2012 was to ensure a healthy, steady stream of royalties to our members who depend on ASCAP’s advocacy and collective licensing to pay the rent and put food on the table,” ASCAP President and Chairman Paul Williams said.
Continued strength in foreign revenues and cable revenues up 20 percent were the primary factors in mitigating revenue declines for radio and background music. ASCAP cited cable industry growth and settlements for the revenue increases in this sector.
In 2012, ASCAP also concluded multi-year license agreements with ABC and CBS Television Networks; the Local Television Music License Committee, which represents 1,100 local TV stations nationwide; the National Cable Television Association representing cable operators; Turner’s TNT, TBS, CNN, etc.; Showtime; and PBS and NPR. ASCAP says these deals, along with multi-year deals signed in 2011, including XM/Sirius Radio, HBO, Viacom, Netflix, Hulu, Rhapsody, Spotify and the radio industry, ensure the organization’s future.