ASCAP delivered record-breaking revenues and royalty distributions in 2024 to its music creator members.
The US PRO has reported revenues of $1.835 billion in 2024, a year-on-year increase of 5.7%, with $1.696bn available for royalty distributions, up 6.5%.
It is the highest amount in revenue and royalty distributions to creators and music publishers historically reported by ASCAP, fueled by revenue growth and a cost allocation overhead rate of 10%.
ASCAP increased the value and monetisation of its members’ music with domestic revenue from US-licensed performances totaling $1.397bn, an increase of 5.3% year-on-year.
Revenues from streaming audio, audio-visual and general licensing drove the increase. The strength in domestic revenue led to 5.5% growth in funds available for domestic distributions, which totaled $1.284bn. Of that total, $53 million was distributed through Songwize, ASCAP’s royalty administration service provided to members who directly license their works.
Collections for foreign revenue also increased to a total of $438m, up by 6.8%, with $411m available for royalty distribution, a 9.8% increase.
In the 10th year of its strategic growth plan, ASCAP has generated a compound annual growth rate (CAGR) for total revenue of 7%; and for total distributions, a CAGR of 8%.
“While every other US PRO is now private equity-owned, ASCAP is the only one that does not owe payouts to private investors or shareholders, making writer and publisher members the sole beneficiaries of ASCAP’s growth,” said a statement.
“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.”
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
Elizabeth Matthews
“ASCAP is committed to innovating, growing and evolving in ways that benefit our members, because music creators drive every decision we make,” said ASCAP chairman of the board and president Paul Williams. “Protecting the livelihoods of songwriters and composers and defending the value of music is a mission we take seriously. For us, this is more than just business – it’s personal, and that’s what sets ASCAP apart from any other PRO.”
ASCAP represents and aggregates over 20 million copyrights in blanket licences which include music from Beyoncé, Billy Joel, Cardi B, Chappell Roan, Charli XCX, Chris Stapleton, Dua Lipa, Garth Brooks, Jay-Z, Jimi Hendrix, Joni Mitchell, Katy Perry, Lil Baby, Lin-Manuel Miranda, Marc Anthony, Mariah Carey, Neil Young, Olivia Rodrigo, Paul McCartney, Stevie Wonder and Usher among many others.
Membership passed the one million mark last year. New members include Kacey Musgraves, Def Leppard, Tate McRae, film/TV composer Cliff Martinez, Sexyy Redd, songwriter Justin Tranter, Jack White of The White Stripes, Dear Evan Hansen star Ben Platt and Graham Nash.
A recent US Copyright Office report affirmed ASCAP’s core AI principle of “human creators first” and cites several ASCAP comments within the text.
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