ASCAP Reports Record $1.835 Billion Revenue, 6.5% Rise in Distributions

ASCAP, the only not-for-profit performance rights organization in the U.S., reported record revenue of $1.835 billion for 2024, marking a 5.7% increase from the previous year. The organization also announced that $1.696 billion is available for distribution to songwriters and publishers, a 6.5% rise, with domestic royalties contributing significantly to the total. ASCAP attributes this growth to increased revenue from U.S.-licensed performances and the lowest overhead cost allocation rate in the industry at 10%. CEO Elizabeth Matthews emphasized that ASCAP returns 90% of its collected revenue to its members, underlining its commitment to putting creators first. Notably, ASCAP's membership surpassed one million, bolstered by high-profile signings including Kacey Musgraves and Jack White. Amidst competition from for-profit organizations, ASCAP maintains its unique not-for-profit model, reinforcing its dedication to artists and publishers.