ASCAP reports record high royalties

NEW YORK, Feb. 16 (UPI) -- The American Society of Composers, Authors and Publishers said Wednesday royalty payments for its members were up 14.9 percent last year.

ASCAP said royalty payments songwriters, composers and publishers amounted to $610 million -- the highest annual total in the organization's history. Domestic distributions totaled $432.7 million, an increase of 13.4 percent over 2003, and foreign distributions grew by 18.5 percent to a total of $177.3 million.

ASCAP CEO John LoFrumento said the organization has distributed more than $2.2 billion to its members during the past four years, more than any performing rights organization.

ASCAP negotiated a new broadcast licensing agreement last year that it called the largest single licensing deal in radio history, worth more than $1.7 billion in revenues to songwriters, composers and publishers.