Bad Timing? ASCAP Announces Record Royalty Payments in 2006

Between this article and the recent announcement on increased internet radio rates, it looks like music royalties are a growth industry...

ASCAP has reported record revenues of $785 million for 2006, royalty payments to members of $680 million, and an all-time low operating expense ratio of 12.0%, the performing rights organization revealed Tuesday. Revenues exceeded those of 2005 by $37 million, showing a 5% growth. Total royalty distributions to members also increased from the prior year by $34 million. U.S. distributions totaled more than $486 million, and international distributions reached $211.7 million. ASCAP also welcomed 40,000 new members during the year.

Of course, I would have told you internet radio was a growth industry too this time last week... I've got nothing against money going to hard-working musicians. I'm just concerned that there are limited outlets to hear quality indie artists. I'd think that the smart ones know that internet radio gives them exposure that they'll never get from the Clear Channels of the world.