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ASCAP turns cash tap

Domestic distribs hit $432.7 mil, an increase of 13.4%

ASCAP disbursed $610 million to songwriters, composers and publishers in 2004, up 14.9% from 2003. The amount reps the highest total in the performing rights org’s history.

Domestic distributions hit $432.7 million, an increase of 13.4%, while foreign distributions grew 18.5% to reach $177.3 million.

ASCAP collected nearly $700 million in 2004. Society’s operating costs hit an all-time low of 13.5% of revenue.

ASCAP chief exec John LoFrumento attributed the results to negotiating strong licensing deals, the development of new media, the implementation of cutting-edge technology and efforts to operate ASCAP efficiently.

“The result is that we’re putting about 15% more money into the pockets of our talented and hard-working members,” he said.

A broadcast licensing agreement reached last year led to the largest single licensing deal in radio history — more than $1.7 billion.

ASCAP artists who performed well in 2004 included Kenny Chesney, Green Day, Jay-Z, Alicia Keys, John Mayer, Howard Shore, Usher and Gretchen Wilson. ASCAP’s film and television music composers scored six of the year’s top 10 feature films.

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