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ASCAP held its annual membership meeting at Manhattan's Hammerstein Ballroom on April 4th. For the first time ever, the meeting was webcast live so that all members, regardless of their location, could participate.
At the meeting, ASCAP CEO John LoFrumento announced that the member distribution total of $610 million was the highest ever in ASCAP's history. Domestic Distributions totaled $432.7 million. And foreign distributions grew by a significant 18.5% to a total of $177.3 million. LoFrumento explained that over the past four years, ASCAP has distributed over $2.2 billion to its members, more than any performing rights organization has ever achieved either in the U.S. or in the world.
While revenues and distributions have reached an all-time high, the society's operating costs are at an all-time low of 13.5%, one of the lowest operating ratios in the world for a performing rights organization, and the lowest by far in the U.S.
ASCAP President and Chairman Marilyn Bergman, who participated live by video feed from Los Angeles, reported on ASCAP's 2004 legislative developments and the challenges that creators face in the months ahead.
ASCAP's Executive Vice President/Membership Group Todd Brabec reported on ASCAP members' outstanding performance on the 2004 Billboard charts and in major music music awards and nominations.
Prior to the general meeting, a special pre-meeting seminar was presented. Entitled "Great Expectations," the seminar featured top songwriters and composers exploring the topic of songwriting and composing and talking about how their ideas inspire and inform their creative work. Moderated by Todd Brabec, the panel included multiple gold and platinum album-winning songwriter/guitarist Carlos Alomar, Pulitzer Prizewinning composer John Corigliano, top Nashville songwriter/artist Gretchen Peters and hot producer (Alicia Keys), Kerry "Krucial" Brothers. View the photo slideshow >>>
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