The American Society of Composers, Authors & Publishers earned a record $482.6 million in receipts in 1996, marking a 10.5% increase over its $436.8 million tally logged the previous year.
ASCAP distributed a record $397.4 million to its members during 1996, making the performing rights org the largest distributor of royalties in the world.
Total worldwide distributions were up 11.4% compared to the previous year's tally of $356.7 million.
Domestic totals jumped nearly 8% to $273.4 million, while foreign distributions topped $124 million in 1996, an increase of nearly 20%.
"This financial milestone is the result of a clear strategy for growth, effective management and a talented staff," Marilyn Bergman, ASCAP prexy and chairman of the board, told Daily Variety.
ASCAP also posted lower operating expenses for 1996, totaled $76 million, a dip of $2.8 million.
The ratio of operating expenses to receipts was also lowered to 15.6%, down from 18.03% in 1995.
The org recently streamlined its operation by reducing redundant functions; enhanced its surveying; and aggressively pursued additional revenue sources.
ASCAP announced its year-end results at its annual membership meeting held Thursday.
The org is the only American performing rights society to hold an annual meeting and make available its annual report.
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