ASCAP continued its record-breaking revenue streak, collecting more than $1.327 billion in 2020, a $53 million increase over 2019. It marked the sixth consecutive year ASCAP grew its revenue.
2020 domestic and foreign revenues both saw significant increases. As compared to 2019, foreign revenue rose by 9% to $358 million. Domestic revenue for 2020 was up by 2.5% at $969 million, an increase of $24 million from 2019.
The growth of domestic revenue was driven in part by gains of 28% in audio streaming revenue and 8% in audio/visual, matching shifting music consumption trends during the pandemic.
ASCAP did lose 30% in revenues from businesses that were shut down or at reduced capacity during the last three quarters of 2020, such as live concerts and events, music venues, bars, clubs, restaurants, retail stores, hotels and more.
During a time period in which the global pandemic directly affected revenues for many companies that license music, ASCAP grew royalties for its songwriter, composer and publisher members by $29 million, or 2.5%, for a total of $1.213 billion available for distributions. Domestic distributions from ASCAP-licensed and administered performances hit $891 million, an increase of $22 million, and foreign distributions totaled $322 million.
“2020 challenged all of us unlike any other year in modern history. It also defined ASCAP’s dedication to our members,” said ASCAP Chief Executive Officer Elizabeth Matthews. “That meant strengthening our commitment to our mission to serve our songwriters, composers and music publishers by taking every step necessary to secure their livelihoods and careers. Inspired by our members each and every day, the ASCAP team proved that innovation, efficiency and progress really can be escalated in a crisis.”
