The American Society of Composers, Authors and Publishers posted a 14% increase in collections to $1.522 billion in 2022.
Elizabeth Matthews, Chief Executive Officer, ASCAP attends the ASCAP Grammy Brunch in The Garden at Four Seasons Hotel Los Angeles at Beverly Hills on February 03, 2023 in Los Angeles, California. The American Society of Composers, Authors and Publishers on Wednesday posted a 14% increase in collections to $1.522 billion while also reporting its fund available for distributions to songwriters and publishers grew 10.7% to $1.388 billion in 2022.
“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 CEOsaid in a statement. Beyond that, ASCAP also noted the organization had achieved a 7% compound annual growth rate for total distributions to members over the same time period.
“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,” ASCAP chairman and president Paul Williams said in a statement. “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.
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