ASCAP 2009 Revenues Jump $176M To $995M
ASCAP reported that in 2009 collections rose to $995 million for its 380,000 members paying out more than $863 million. That's up from $819 million in 2008 and $741 in 2007. Foreign revenue grew to nearly $302 million. "Music is performed more often, in more places, in more ways by more businesses than ever before. That expanded music use, combined with dramatic ASCAP Membership growth, market share increases and effective strategic management have led to stunning revenue and distribution growth for 2009," said ASCAP CEO John LoFrumento. "Looking to 2010 and beyond, our challenge is to obtain fair rates for the increasingly valuable public performance right over Internet and wireless devices."