ASCAP, the only US PRO founded and governed by songwriters, composers and music publishers, and the only one that operates on a not-for-profit basis, announced today that it delivered another year of record-breaking revenues and royalty distributions in 2024 to its music creator members. ASCAP delivered $1.835 billion in revenue in the 2024 calendar year, an increase of $98 million, or 5.7% over 2023 with $1.696 billion available for royalty distributions, up by $104 million, or 6.5%.
This is the highest amount in revenue and royalty distributions to creators and music publishers historically reported by ASCAP, fueled by revenue growth and the lowest overall cost allocation overhead rate in the US at 10%. ASCAP delivers 90 cents of every dollar collected back to its members as royalties and does not charge a commission or take a profit. Instead, according to its unique governance and operating principles, it must deduct expenses and then distribute remaining dollars as royalties to its members.
ASCAP increased the value and monetization of its members’ music with domestic revenue from US-licensed performances totaling $1.397 billion, an increase of 5.3%, or $71 million, year over year. Revenues from streaming audio, audio-visual and general licensing drove the increase. The strength in domestic revenue led to 5.5% growth in funds available for domestic distributions, which totaled $1.284 billion. Of that total, $53 million was distributed through Songwize, ASCAP’s royalty administration service provided to ASCAP members who directly license their works.
Collections for foreign revenue also increased to a total of $438 million, up by $28 million, or 6.8% with $411 million available for royalty distribution, a 9.8% increase of $37 million.
In the 10th year of its strategic growth plan, ASCAP has generated a compound annual growth rate (CAGR) for total revenue of 7%; and for total distributions, a CAGR of 8%.
While every other US PRO is now private equity-owned, ASCAP is the only one that does not owe payouts to private investors or shareholders, making writer and publisher members the sole beneficiaries of ASCAP’s growth.
“For songwriters, composers and publishers, ASCAP provides the best return on their performance royalties because they get 90 cents of every dollar we collect. It's that simple. We are the only US PRO that does not take a profit and the only one that can credibly say we put creators first in everything we do,” said ASCAP CEO Elizabeth Matthews.
“ASCAP is committed to innovating, growing and evolving in ways that benefit our members, because music creators drive every decision we make. Protecting the livelihoods of songwriters and composers and defending the value of music is a mission we take seriously. For us, this is more than just business – it’s personal, and that’s what sets ASCAP apart from any other PRO,” said ASCAP Chairman of the Board and President Paul Williams.
ASCAP represents and aggregates over 20 million copyrights in cost-effective, efficient blanket licenses which include iconic music from Beyoncé, Billy Joel, Cardi B, Chappell Roan, Charli XCX, Chris Stapleton, Dua Lipa, Garth Brooks, Jay-Z, Jimi Hendrix, Joni Mitchell, Katy Perry, Lil Baby, Lin-Manuel Miranda, Marc Anthony, Mariah Carey, Neil Young, Olivia Rodrigo, Paul McCartney, Stevie Wonder and Usher among many others.
Top music creators switched to ASCAP in 2024 as membership soared past the one million mark. New members include country music trailblazer Kacey Musgraves, hard rock legends Def Leppard, global pop star Tate McRae, acclaimed film/TV composer Cliff Martinez, rising rap phenom Sexyy Redd, superstar songwriter Justin Tranter, rock icon Jack White of The White Stripes, Dear Evan Hansen star Ben Platt and folk-rock royalty Graham Nash.
2024: A Record-Breaking Year in Review
As the US Copyright Office developed recommendations on legal and policy issues related to copyright and AI, ASCAP’s submitted comments were at the forefront of sources consulted for a report issued in early 2025. The final USCO report affirmed ASCAP’s core AI principle of “human creators first,” and cites several ASCAP comments within the text.
ASCAP represents a community of music creator members, from those just starting out to those at the peak of their careers. In 2024 it hosted events throughout the year to bring its community together, including celebrations of top members in each genre, its annual Membership Meeting, song camps, showcases and workshops. Recently, ASCAP moved quickly to launch a one-million-dollar emergency relief fund to assist Los Angeles-based ASCAP songwriters and composers who were affected by the LA wildfires.
With a fully cloud-based infrastructure since 2022, ASCAP continues to be a leader in innovation and data technology. In a new strategic alliance announced with SACEM (Société des Auteurs, Compositeurs et Editeurs de Musique), the two societies are leveraging their investments in state-of-the-art data infrastructure and human expertise to benefit their music creator and publisher members.
Also in 2024, the ASCAP Lab, the organization’s innovation initiative, hosted its fifth ASCAP Lab Challenge. The AI and the Business of Music Challenge saw the team working directly with some of the most promising music tech entrepreneurs and early-stage startups in an effort to shape how AI tools can benefit music creators.
