Key Takeaways
- In 2022, ASCAP distributed a record $1.538 billion in royalties to its songwriter, composer, and music publisher members, marking the highest total in the organization's 110-year history.
- Global recorded music industry revenues reached $28.6 billion in 2022, up 10.2% from 2021, with songwriters benefiting from streaming's 11.7% growth to $17.5 billion.
- BMI paid out $1.37 billion in royalties to 1.1 million musical works in fiscal year 2022, a 13.8% increase over the previous year.
- In 2023, 75% of professional songwriters were aged 25-44, according to a Berklee College survey of 1,200 members.
- Women comprised 28% of ASCAP's registered songwriters in 2022, up from 23% in 2018.
- 62% of BMI songwriters identify as independent, self-publishing their works as of 2023.
- Median songwriter income in U.S. is $25,000/year, with 90% earning under $100K, Future of Music 2023.
- ASCAP songwriters received average quarterly royalty check of $1,200 in 2022.
- Streaming royalties per stream average $0.0039 for songwriters via publishers, NMPA 2023.
- 91% of Billboard Hot 100 songs in 2023 had 3+ songwriters credited.
- Only 0.3% of ASCAP songs earn over $100K in royalties annually, 2022 data.
- Top 100 Spotify songs averaged 1.2 billion streams each in 2023.
- Streaming market share grew to 67% of revenues by 2023, IFPI.
- AI songwriting tools used by 45% of songwriters, per 2024 Splice survey.
- Short-form video drives 30% of new song discoveries, TikTok 2023 data.
The songwriting industry saw historic royalty payouts and revenue growth in 2022.
Demographics and Participation
Demographics and Participation Interpretation
Hits and Success Metrics
Hits and Success Metrics Interpretation
Revenue and Economics
Revenue and Economics Interpretation
Royalties and Payments
Royalties and Payments Interpretation
Trends and Innovations
Trends and Innovations Interpretation
Sources & References
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