2002 Financial Results Announced at Annual Membership Meetings in Los Angeles, New York, Nashville and Austin

Thousands of ASCAP members gathered at the Society's annual membership meetings held recently in Los Angeles, New York City, Nashville and Austin. ASCAP President and Chairman Marilyn Bergman hosted the Los Angeles and Nashville meetings.

At the meetings, ASCAP CEO John LoFrumento announced that in 2002, ASCAP distributions to members were $587 million, a new record amount for any performing rights organization anywhere in the world. A major reason for this strong performance was the result of $79 million in special distributions from settlement payments received from the cable industry, primarily Viacom and HBO. LoFrumento noted that, "ASCAP's aggressive pursuit of favorable settlements in our negotiations with the cable industry has enabled us to distribute over $125 million to our members over the past three years." Exceptional operating expense control remains a hallmark of ASCAP's business practices. The Society continues to post one of the lowest operating ratios in the world for a performing right society -- 14.8 % -- and the lowest in the U.S.

Other important matters discussed by Bergman and LoFrumento included legislative developments, technological improvements designed to better serve members, and growth of ASCAP licensing efforts, particularly in Cable, New Media and General (non-broadcast) licensing. Finally, ASCAP Executive Vice President, Membership Group, Todd Brabec discussed ASCAP's outstanding performance on the 2002 music charts and in major music awards and nominations, as well as ASCAP's rapidly-increasing membership, which now numbers over 150,000 composer, lyricist and publisher members, an increase of more than 20,000 over the prior year.

In each city, ASCAP members attended an ASCAP Pre-Meeting Seminar entitled "Success Stories -- Top Songwriters & Composers Explain How They Broke Into the Business." Each panel featured a select group of songwriters and composers from each region.

ASCAP CEO John LoFrumento announces record distributions at the New York City membership meeting.

Pictured above in New York are the ASCAP Pre-Meeting Seminar panelists (l-r) Seven, David Zippel, Pat Irwin and ASCAP's Todd Brabec.

Pictured above in Austin (l-r) are President and CEO of Music World Entertainment and Destiny's Child manager Mathew Knowles, songwriter and ASCAP Board member Jimmy Webb and Texas music legend Ray Benson at the "Success Stories" Seminar.

Los Angeles Success Stories

"Success Stories" seminars were held before each ASCAP Membership Meeting in Los Angeles, New York, Nashville and Austin featuring prominent ASCAP members. Pictured (l-r) in Los Angeles are seminar panelists Graham Edwards, Alejandro Lerner, Marco Beltrami and Todd Brabec.

ASCAP President and Chairman Marilyn Bergman hosted the Los Angeles and Nashville meetings.

Nashville Success Stories

Pictured in Nashville at the "Success Stories" pre-meeting seminar are (l-r) Steven Dale Jones, Nicole C. Mullen, Steve Diamond, David Corlew and Frank Liddell.

Congressman Lamar Smith Gives Keynote Speech to Creative Community at Austin ASCAP Meeting

The Honorable Lamar Smith (R-TX), pictured above, who serves as Chairman of the Subcommittee on Courts, the Internet and Intellectual Property of the House Judiciary Committee, delivered his keynote speech to the creative community at the first ever ASCAP Texas Membership Meeting held at the Four Season's Hotel in Austin on April 16. Over 400 songwriters, lyricists and publisher members of ASCAP, as well as special guests, were in attendance.

The Subcommittee has jurisdiction over digital rights, copyright and patent protections, piracy, secure networks, peer-to-peer networks, fair use standards, litigation management, cyber-security, state sovereign immunity, patent and trademark office reform and e-commerce.