×
You will be redirected back to your article in seconds

ASCAP gets cable TV boost

While overall payments and revenues at ASCAP remained relatively flat, the performance rights group logged substantial increases in revenue from cable TV, according to unaudited 2012 financial figures the org presented on Monday.

In total, ASCAP managed to distribute more royalties to songwriters, publishers and copyright holders than last year, despite accruing less in total revenue: Annual revenue of $941 million represented a 4.5% decline from 2011, while total royalty payments accounted for $827 million, a slight gain of about $3 million from 2011.

Owing to a growth in cable TV and a number of license agreements with cablers, ASCAP’s revenue from cable television increased 20% over last year, representing $204 million in income. In contrast, revenue from network television was down slightly, at $104 million.

ASCAP acknowledged the impact of a DMX rate court settlement upon its decreased revenues. It credited itself, however, with reducing operating expense, which fell to 11.3% from 12% last year.

ASCAP’s president and chairman Paul Williams pointed toward the org’s advocacy efforts in a statement, saying, “We are navigating in a complex, rapidly changing environment in which huge, cash-rich technology companies are developing business models that fly fast and free with our copyrights. Only a thriving community of songwriters and composers — who can make a decent living from their work — can ensure a vibrant music ecosystem going forward.”

More Biz

  • Alan Horn Bill Tanner

    Alan Horn to Keynote Variety Business Managers Elite Breakfast, Bill Tanner to Be Honored

    Bill Tanner will be recognized with Variety’s 2019 Business Managers Elite Award at the annual Business Managers Elite Breakfast presented by City National Bank, which takes place in Beverly Hills on Nov. 13. Co-chairman and chief creative officer of The Walt Disney Studios Alan Horn will be the keynote speaker in conversation with Variety editor-in-chief, [...]

  • Smoke haze covers the Sydney Harbour

    Australia's Seven West to Merge With Affiliate Prime Media

    Australia’s Seven West Media has agreed a deal to acquire regional broadcast group Prime Media. The move is a further step in the consolidation of Australia’s traditional media industry. The two companies announced on Friday that Seven will make the acquisition entirely through the issue of new shares to the owners of Prime. Both companies [...]

  • Ron Meyer

    Ron Meyer Files $10 Million Suit Over Forged Rothko

    NBCUniversal Vice Chairman Ron Meyer has filed a $10 million suit against two art dealers, claiming they sold him a forged Mark Rothko painting in 2001. Meyer accuses Susan Seidel and Jaime Frankfort of duping him into buying the work. According to the suit, he was told that it would be included in an official [...]

  • Former movie producer Harvey Weinstein (L)

    Harvey Weinstein Seeks to Call Expert on 'Recovered' Memories at Rape Trial

    Harvey Weinstein’s attorneys are seeking to call an expert on “recovered memories” at his trial on rape and sexual assault charges. The defense has filed a motion asking to call Deborah Davis, a psychologist and professor at the University of Nevada at Reno. Davis is a frequent defense witness. She co-authored an article in 2006 [...]

  • Tekashi 6ix9ine Docuseries Coming From Showtime

    Tekashi 6ix9ine Docuseries Coming From Showtime and Rolling Stone

    Showtime Documentary Films today announced a new limited docuseries profiling controversial rapper Tekashi 6ix9ine. Titled “SuperVillain” and inspired by the Rolling Stone feature written by Stephen Witt, the three-part series will trace how a New York City deli clerk named Daniel Hernandez became superstar rapper Tekashi 6ix9ine — who racked up 2.6 billion streams and [...]

  • Fader Label Logo

    Fader Label Signs Two New Acts, Boosts Staff

    The Fader Label, home to Clairo, Matt and Kim and others, announced two new signings today along with three new hires on its staff. Charlie Burg and Zachary Knowles have joined the label’s talent roster, while Carson Oberg has come aboard as general manager, Yasmine Panah as project manager and Josh Hymowitz as label coordinator. They [...]

More From Our Brands

Access exclusive content