ASCAP has revealed its record-setting financial results for 2021, showing total revenue collected to be a historic high of $1.335 billion.
Increases in collections from the audio streaming and audio-visual sectors pushed ASCAP’s domestic revenue to $1.011 billion in 2021, up 4.4% from 2020. Additionally, ASCAP’s identification, matching and processing of trillions of musical performances drove distributions exceeding $1 billion for the fifth year in a row for a total of $1.254 billion available for distribution to its 850,000+ members in 2021.
“The ASCAP team is dedicated to building a future of opportunity for our songwriter, composer and music publisher members,” comments ASCAP CEO Elizabeth Matthews. “We know music creators have been deeply affected by the pandemic, and that is why it is so important that ASCAP has delivered more royalties to our members when they need it most. Through our licensing, advocacy and wellness efforts, we strive to provide both economic and emotional support to our members to help them weather these challenging times and to create a brighter future.”
ASCAP continued its shift to virtual events in 2021, such as The ASCAP Experience which featured conversations and award presentations on YouTube with ASCAP Golden Note Award winner Greg Kurstin and ASCAP Voice of the Culture Award winners Swizz Beatz, Timbaland and D-Nice. In 2021, the organization hosted 22 sessions and two feedback opportunities, drawing nearly 17,000 registrants from 93 countries and generating over 41,000 views of its original programming.
“Music creators have no greater champion than ASCAP,” adds ASCAP Chairman of the Board and President Paul Williams. “The ASCAP team worked extremely hard for our members for the second pandemic year, helping our community to stay healthy, creative, connected and financially stable during this time. Music gives us the gift of hope, which is so critical as we move forward. We forge ahead with our work in 2022 with inspiration and gratitude for the trust that our members place in us to enable their livelihoods, protect their rights and defend the value of music.”
Click here to read the full 2021 financial report.
The post ASCAP Delivers Record-Setting Revenues & Distributions In 2021 appeared first on MusicRow.com.