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Just one of the paragraphs, with the relevant part bolded for emphasis. Looks like less money is already happening.
First, it is important to understand that ASCAP distributions are made on a “cash basis” (the money we collect in a quarter is paid out that same quarter, less the costs of operation) as opposed to an “accrual basis” (money collected would be held and paid out two or three quarters later). In other words, we calculate distributions based on current revenues, not past revenues. In normal times, this is a great benefit to ASCAP members as you receive your money faster. During this crisis, as we see more and more of our licensees who pay us start to feel the impact of the economic downturn, this translates into less revenue for ASCAP and less money available for distributions for our members. We have already been contacted by numerous licensees who are attempting to pay less, pay late or not pay at all.
I don’t know, maybe we’re not talking about it because what is there to say? It’s out of members hands. The payment will come when it comes and for the amount they issue. Fair or not, this is where we are. I suppose the only actionable response is members moving their catalog for the future, should they consider the grass to be greener on the other side.
On that note is anyone seeing a delay in payment from ASCAP? The 9th and still no money deposited in my account, if I receive no payment this will he the first time in awhile I recieied nothing for a quarter. . O the other hand I’ve been out of it for about a year or so.
Chuck, they delayed payments until the 28th I think it is, due to offices being closed and working from home. They’ve also prepared us for a lame payout, though that’s not quite how they put it.
My curiosity here: if our payments are reduced this quarter (which sounds like they are) and the crisis eases a bit, is ASCAP going to make adjustments to the next quarter payout (once operating conditions are more safe)?
precisely. i’m starting to think composers have the same fear attached to a PRO than people have to a high street bank. there’s a huge portion of the population who would never consider changing their bank even if they hated the experience they were getting on a daily basis. fear of change is a powerful thing lucky enough for some of these PRO’s.
I know ASCAP had sent a letter a couple weeks ago. If you head to where you normally go to sign in, they do have additional info written as to what is currently happening.
Thanks, I probably would have missed that.
“The whole music industry is feeling the effects of the COVID-19 pandemic and preparing for an uncertain future. We know our members have important questions about how all of this will affect your ASCAP royalties. We have seen a lot of misleading information online about the delay of our April 2020 writer distribution. So we wanted to set the record straight, and answer your most frequently asked questions.
The good news is that the upcoming April 28 writer distribution is fully funded at the same level we planned, pre-COVID-19. In fact our March and April 2020 distributions to you are higher than last year’s, and among our highest ever.”
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