ASCAP 2012 financial report: revenue lowers, payments increase slightly
According to the document the society collected $941 million in revenue last year: down 4.5% from its 2011 total of $982 million. Royalty payments, instead, increased slightly to $827 million, up from $824 million in the previous year.
It seems the lower revenue rate is due to royalty payment decreases from the radio industry and from retail background music services, at least according to ASCAP's analysis.
By the way, although revenue declined last year, 2012 still represented the third-highest collection year in the organization's history.
ASCAP CEO John LoFrumento said in a statement that for 2013 ASCAP is "poised to return to year-over-year growth in our domestic revenues and with foreign revenues remaining consistently high, we are looking forward to a bright future for our members in the coming years".
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