News

Ascap collections grew by 4.2% in 2020 to more than $1.3bn


Tags:

The publishing side of our industry has been holding its breath waiting for data on the delayed impact of the Covid-19 pandemic, particularly on the revenues collected and distributed by collecting societies.

Judging by US PRO Ascap’s latest financials, that impact has yet to hit with full force. It collected more than $1.33bn in 2020, up by 4.2% year-on-year, which is actually more in percentage terms than the $3.8% rise in 2019.

The figures include 28% growth for audio streaming collections and 8% growth for audio/visual collections, helping to offset a 30% drop in collections from concerts and businesses.

Ascap paid out $1.21bn of those collections in royalties to songwriters, composers and publishers, representing 2.5% growth year-on-year.

It’s a more positive outcome than Ascap predicted in April last year, when president Paul Williams warned that “it is important to ensure that we are prepared for a decline in both revenues and distributions”.

Stuart Dredge

Sign up for Music Ally’s free weekly newsletter, The Knowledge – at-a-glance analysis of the modern music industry

Read More: News
Leave a Reply

(All fields required)