ASCAP Achieves Outstanding 2007 Financial Performance

NEW YORK, NY--(Marketwire - February 8, 2008) - Demonstrating clear leadership within the music industry, member-owned performing rights organization, ASCAP (American Society of Composers, Authors and Publishers), today reported record 2007 revenues of $863 million and royalty payments of $741 million, as well as an all-time low operating expense ratio of 11.9 percent.

Representing a fast-growing, diverse membership of more than 315,000 music creators -- a 14.5 percent increase over last year -- ASCAP attributes its exceptional performance to five key factors: tirelessly building revenues from the licensing of existing and new music channels; consistently distributing more royalties to its members; aggressively implementing innovative technology; relentlessly managing operating costs; and tenaciously focusing on providing superior member benefits.

"In 2007 ASCAP clearly performed for our member-owners," said John LoFrumento, ASCAP CEO. "Not only did we put more money in the pockets of hard working songwriters, composers, lyricists and music publishers, but we also intensified our professional development programs and public advocacy efforts on their behalf. In 2008 and beyond, we will continue to assert our leadership as the pre-eminent performing rights organization."

Revenues for 2007 exceeded 2006 by $77 million, a 10 percent growth rate. Both U.S. and foreign revenues showed strong gains. Domestic revenues totaled nearly $598 million, up $39 million, with significant growth in radio, cable and General Licensing. International revenues exceeded $265 million, up $38 million from the year before -- benefiting from the growing global popularity of the ASCAP repertory and favorable exchange rates.

Royalty distributions to ASCAP's members grew in 2007 by $61 million, a 9 percent increase over the prior year. Both U.S. and foreign distributions rose substantially, with domestic royalties up more than $28 million and international royalties up nearly $33 million.

While substantially growing both revenues and royalties, ASCAP held the line on expenses, achieving the lowest-ever operating expense ratio of any performing rights organization: 11.9 percent, down from 12.1 percent in 2006.

Focus on Career Advancement and Advocacy

ASCAP is continuing to place an emphasis on career advancement, professional development and advocacy through a variety of initiatives.

LoFrumento added that investing in the professional development of its members through technologies like Mediaguide, PREP and the ASCAP Network; services like MusicPro Insurance and the industry's largest member benefit program; and career enhancement tools like the ASCAP "I Create Music" EXPO, makes ASCAP a totally different kind of PRO. "By investing in our members' professional development, we are seeing a significant return in revenue growth now and will continue to see it in the future," said LoFrumento.

The following details the core ASCAP services and member benefits that support and advance the careers of music creators:

--  Mediaguide, which tracks broadcast and Internet radio performances via
    digital fingerprinting technology. Mediaguide not only satisfies ASCAP's
    performance tracking needs, but also generates revenues from over 150
    independent labels and publishers as well as advertisers benefiting from
    accurate and timely ad verification.
--  PREP (Performing Rights Enterprise Program), a sophisticated
    technology platform that gives members online access to ASCAP's performance
    and royalty distribution databases. Major components of PREP are now in
    use, with other capabilities scheduled to go live within the year.
--  ASCAP Network, a rapidly growing showcase for the music of ASCAP
    members across 10 channels at www.ascap.com. This online music source now
    delivers nearly 500,000 streams a month, exposing new audiences to great
    music and emerging talent.
--  MusicPro Insurance, created and owned by ASCAP members, it provides
    affordable and convenient instrument, studio and tour coverage to thousands
    of music professionals, regardless of affiliation. In addition this service
    is also endorsed by nearly every music organization, including ASCAP's
    competitors.
--  "I Create Music" EXPO, the first and only national conference
    dedicated to songwriting and composing, ASCAP expanded its "I Create Music"
    franchise in 2007 to embrace an entire week of high-profile awards
    ceremonies and professional development activities.  In its first two
    years, over 4,000 people have participated in this EXPO. This year, the
    three-day "I Create Music" EXPO will take place in Los Angeles April 10 -
    12.
    

In addition to the above mentioned member services and benefits, ASCAP also took a bold step to support education for children on the issue of illegal downloading of copyrighted music. In conjunction with i-SAFE, the leader in Internet safety education, ASCAP created the nation's first comprehensive educational program addressing why personal piracy of music and other creative content is harmful. Titled "The Donny the Downloader Experience," this new program is being presented in schools across the U.S. Since its launch in February, the program, which was conceived to help preserve future music appreciators, has already reached nearly a million students through assemblies and an interactive curriculum.

"Our stellar financial performance in 2007 underscores the success of ASCAP's leadership strategy, which combines extensive revenue and royalty building initiatives with aggressive cost containment efforts," said LoFrumento. "These strategies are underpinned by our deployment of innovative technologies and our deep commitment to providing our members with the new tools to succeed in this ever-changing music environment."

About ASCAP:

Established in 1914, ASCAP (American Society of Composers, Authors and Publishers) is the first and leading U.S. Performing Rights Organization representing the world's largest repertory totaling over 8.5 million copyrighted musical works of every style and genre from more than 315,000 songwriter, composer and music publisher members. ASCAP also represents the repertories created by the international affiliates of 90 foreign performing rights organizations. ASCAP protects the rights of its members and foreign affiliates by licensing the public performances of their copyrighted works and distributing royalties based upon surveyed performances. ASCAP is the only American Performing Rights Organization owned and governed by its writer and publisher members. www.ascap.com