ASCAP 2024 distributions up 6.5% on record $1.8B revenue

ASCAP, the only remaining U.S. PRO to operate as a not-for-profit, delivered a record $1.835 billion in revenue in 2024, a 5.7% increase over 2023 with ASCAP 2024 distributions up 6.5% to $1.696 billion.

ASCAP 2024 distributions up 6.5% on record $1.8B 2024 revenue

2024 marked the highest revenue and royalty distributions to creators and music publishers historically reported by ASCAP, fueled by revenue growth and the lowest overall cost allocation overhead rate in the US at 10%. 

ASCAP vs BMI

As part of it’s not-for-profit mission, ASCAP delivers 90% of revenue from the 20 million copyrights it represents to its members as royalties. It’s top competitor BMI returns 85% of revenue to its members. This change occurred following the sale of BMI to private equity firm New Mountain Capital last year.

“For songwriters, composers and publishers, ASCAP provides the best return on their performance royalties because they get 90 cents of every dollar we collect, said ASCAP CEO Elizabeth Matthews. “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.”

Read the full ASCAP annual report here.

U.S. Copyright Office Inquiry

ASCAP revenue from US-licensed performances totaled $1.397 billion, an increase of 5.3%, or $71 million, year over year. Revenues from streaming audio, audio-visual and general licensing drove the increase. 

Those performance licences are now being looked at by the U.S. Copyright Office who are investigating ASCAP, BMI, SESAC and Global Music Rights (GMR) over the growing number of PROs, the license to play recorded or live music that each requires, and an alleged lack of transparency.

Under the current system promoters, venues and artists must pay all four US PROs for every show, even when the songs performed were registered to a single organization. What songs are covered by each license, how the money collected is divided and paid to artists and rightsholders is also under investigation.

Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, a Berklee College Of Music professor and founder of the Skyline Artists Agency

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