BILLIE EILISH PERFORMS DURING THE 62ND ANNUAL GRAMMY AWARDS Photo by Emma McIntyre/Getty Images for The Recording Academy WE ARE… grateful to serve our family of

songwriters, composers and music

publishers so they can keep creating

the music the world needs now.

ASCAP is 100% committed to

protecting the value of our members’

music. We give them the tools, support

and guidance they need to grow their

careers, and the vital connections they

need to succeed.

USHER PERFORMS DURING THE 62ND ANNUAL GRAMMY AWARDS Photo by Kevin Mazur/Getty Images for The Recording Academy

2020 ANNUAL REPORT 2 A MESSAGE FROM ASCAP PRESIDENT AND CHAIRMAN OF THE BOARD PAUL WILLIAMS

I hope all of you and your loved ones are staying but innovated and optimized to help our writers and healthy, finding positive ways to cope and seeing publishers. In fact, in 2020 ASCAP executed not one the light at the end of this long tunnel. We all are but ten distributions to our members entirely re- still facing hard challenges, as individuals, as fami- motely for the first time in ASCAP history. lies, as a community and as a country. ASCAP is its members – a gloriously diverse family Yet, the eternal optimist in me sees great hope, of music creators, and in 2020 we came together change and opportunities as we rise above this dark like never before to make a genuine impact. We chapter. That’s because I believe in you and the power took strong action to support our community, fos- of our collective. As music creators, you are instru- ter innovation, educate our members, protect equi- ments of healing and your music is giving solace, in- ty in the workplace, boost participation in the 2020 spiration and strength to the world. Thanks to you, election and create a lasting, much-needed trans- we are more connected to each other and committed formation in how we treat each other. to a better future than ever before. We fought hard in Congress for COVID-19 relief 2020 showed just how essential ASCAP’s work is to measures that would help our members, made a the lives of our members. And I am so impressed by significant MusiCares donation and launched the the extraordinary efforts the ASCAP team has made Music Unites Us website to share vital resources to to make up for revenues lost due to the pandemic help our members weather the pandemic. and to deliver the financial security and support mu- We even developed creative new ways to celebrate sic creators need to survive the crisis of our lifetime. our members whose music met this challenging I am in awe of how ASCAP CEO Beth Matthews and moment and succeeded. Congratulations to all the ASCAP team – without missing a beat! – quickly of you who topped the charts, made history and pivoted to remote working and didn’t just respond, shaped our culture in numerous ways. (Continued next page)

2020 ANNUAL REPORT 3 CYNTHIA ERIVO (PRS), winner of the 2020 BERNIE TAUPIN, winner of the 2020 Oscar MICHAEL R. JACKSON, winner of the 2020 ANTHONY DAVIS, winner of the 2020 NATALIA LAFOURCADE (SACM), winner of World Soundtrack Award for Best Original for Best Original Song for “(I’m Gonna) Love Pulitzer Prize in Drama for A Strange Loop Pulitzer Prize in Music for The Central three 2020 Latin Grammys for Album of Song for “Stand Up” from Harriet Me Again” Park Five the Year, Best Alternative Song and Best Regional Song

As we turned the page on 2020, we received im- benefits to music creators and licensees alike, our issues moving forward. And it is only possible, portant news that affects all of our songwriter, that market-based solutions are the answer – not thanks to all of you who took action and poured composer and music publisher members. After compulsory licensing, and that songwriters must your blood, sweat and tears into sharing your ex- nearly two years since the US Department of be paid fairly. This is what we have been saying all periences with the DOJ during this process. You Justice (DOJ) first launched a formal review of along. This is progress. made a difference for every single songwriter and the ASCAP and BMI consent decrees, composer in America. the DOJ officially closed its review As we usher in a new administration and a and announced it would take no action new Congress in Washington, DC, ASCAP to modify or terminate the decrees at WE TOOK STRONG ACTION TO SUPPORT OUR COMMUNITY, will always be in your corner – leading the this time. FOSTER INNOVATION, EDUCATE OUR MEMBERS, PROTECT way, celebrating your music, advocating ASCAP has long advocated for modern- EQUITY IN THE WORKPLACE, BOOST PARTICIPATION IN THE for your rights, and making sure your voice izing our 80-year-old consent decree. is heard. Our commitment to defending the 2020 ELECTION AND CREATE A LASTING, MUCH-NEEDED And while we were disappointed that value of your music will never waiver. no action was taken, we are encour- TRANSFORMATION IN HOW WE TREAT EACH OTHER. Remember, music is a shortcut to emotion. aged to see the DOJ announcement ac- Freedom to feel…and to heal. Today we knowledge some of the following truths: need your music more than ever. that songwriters are the backbone of the music These acknowledgements are enormously import- industry, that collective licensing provides great ant in terms of how the government approaches Thank you for being part of the ASCAP family.

2020 ANNUAL REPORT 4 STRENGTH + RESILIENCE A MESSAGE FROM ASCAP CEO BETH MATTHEWS

2020 challenged all of us unlike any other year in modern During a time period in which the global pandemic di- history. It also defined ASCAP’s dedication to our mem- rectly affected revenues for many companies that license bers. That meant strengthening our commitment to our music, ASCAP grew royalties for its songwriter, compos- mission to serve our songwriters, composers and music er and publisher members by $29 million, or 2.5%, for a publishers by taking every step necessary to secure their total of $1.213 billion available for distributions. Domestic livelihoods and careers. Inspired by our members each distributions from ASCAP-licensed and administered per- and every day, the ASCAP team proved that innovation, formances hit $891 million, an increase of $22 million and efficiency and progress really can be escalated in a crisis. foreign distributions totaled $322 million. As a reminder, ASCAP operates on a not-for-profit basis and distributes I am pleased to say that ASCAP overcame the unprece- all revenues collected, less operating expenses. dented headwinds of 2020 to continue its record-break- ing revenue streak, collecting more than $1.327 billion in How did we accomplish such progress in the midst of a revenues, a $53 million increase over 2019. global pandemic? It helps to have the greatest communi- ty of music creators in the world. It also helps to have the 2020 marked the sixth year of ASCAP’s strategic plan to greatest team of talented, hard-working and passionate transform its business and grow revenues. During the exe- employees committed to the mission of ASCAP, which is cution of the strategic plan from 2015 through 2020, ASCAP to protect and advocate for our members. Together, we exceeded performance goals and drove ASCAP revenues harnessed strength and resilience to overcome the many to a 6% compound annual growth rate (CAGR) and ASCAP challenges this crisis has thrown at us. distributions to a 7% compound annual growth rate. When COVID-19 first hit last March, ASCAP seamless- 2020 domestic and foreign revenues both saw significant ly pivoted to remote work and gave our employees the increases. As compared to 2019, foreign revenue rose by tools, support and flexibility to adjust their lives to contin- 9% to $358 million. Domestic revenue for 2020 was up ue to deliver excellent service for ASCAP members. by 2.5% at $969 million, an increase of $24 million from 2019. The growth of domestic revenue was driven in part We quickly made operational changes and expense cuts by gains of 28% in audio streaming revenue and 8% in au- to mitigate the pandemic’s impact. We optimized and ag- dio/visual, matching shifting music consumption trends gressively executed our collection efforts. As so many of during the pandemic. ASCAP’s strategy to mitigate the our valued licensees closed their businesses or suffered impact of COVID-19 helped to offset uncontrollable de- revenue declines, we finalized important deals with ma- clines in other sectors, including a 30% decline in reve- jor licensees that were positively impacted by consumer nues from businesses that were shut down or at reduced behavior during the pandemic. We did this to make up capacity during the last three quarters of 2020, such for revenue loss in categories that were outside of our as live concerts and events, music venues, bars, clubs, control. In addition to the many multi-year deals already restaurants, retail stores, hotels and more. in place for 2020, we closed or renewed over 130 deals in categories such as Cable, Broadcast TV, radio and Au- dio/Visual and Audio Streaming. (Continued next page)

2020 ANNUAL REPORT 5 SIX-YEAR PLAN 2020 = $53 MILLION REVENUES OVER 2019 .2 .2B BILLION .22B .B .0B CAGR* +6% .0B 2015-2020

20 20 20 20 20 2020

*Compound Annual Growth Rate

We accelerated our distributions, including our Symphony, and BMI to display more detailed, authoritative and con- 120 countries around the world. Recital and Education royalties, and adjusted our financial sistent copyright ownership data for performing rights for management protocols to stabilize distributions and give more than 20 million songs in our combined repertories ASCAP’s seven traditional red carpet award shows rec- our members more financial security going forward. for the first time. ognizing the most-performed works of our songwriters and composers across the musical spectrum transitioned We completed system upgrades to boost performance All of these major projects make us more effective and ef- to ASCAP social media platforms, giving every winning and continued with the migration of our infrastructure ficient and better able to respond in the future to changes member a chance to shine. The virtual events drove a to the cloud, all while improving security and increasing within the industry. 277% increase in our social media engagement including efficiency and reliability across all of our tech operations. participation from some of the world’s biggest music cre- Supporting our members also means celebrating their ators such as Billie Eilish, Cardi B, Diplo, DaBaby, Justin successes and fostering the next generation of music Bieber and Ariana Grande. creators. To accomplish that in 2020 we reimagined a full schedule of member events on multiple virtual plat- I am so grateful for the incredible work that the ASCAP forms and later, launched and promoted new virtual team delivered in 2020 and continues to deliver around stages to give our songwriters and composers a chance the clock today. Their dedication to serving and support- ASCAP also continued to push for greater transparency to share their talents with the world during lockdown. ing you is greater than ever. I promise you that we will re- in the music industry with the launch of Songview, a com- ASCAP Experience: Home Edition brought ASCAP’s main laser focused on fighting for you and your families. prehensive data platform developed in partnership with conference for aspiring songwriters to an even bigger Thank you for your ASCAP membership and for trusting BMI. The from-the-ground-up innovation enables ASCAP audience, drawing more than 10,000 attendees from us with protecting the world’s greatest music.

2020 ANNUAL REPORT 6 BOARD OF DIRECTORS The 12 writers and 12 publishers of the ASCAP Board work hard to protect and support the interests of ASCAP members.

1st column, top to bottom: 2nd column, top to bottom: 3rd column, top to bottom: 4th column, top to bottom: 5th column, top to bottom:

DOUG WOOD WRITER IRWIN Z. ROBINSON PUBLISHER PAUL WILLIAMS WRITER MARCUS MILLER WRITER JOEL BECKERMAN WRITER COMPOSER ASCAP BOARD PUBLISHER VICE ASCAP PRESIDENT AND CHAIRMAN COMPOSER COMPOSER CHAIRMAN, CROMWELL MUSIC, INC. OF THE BOARD, SONGWRITER CAROLINE BIENSTOCK PUBLISHER BRUCE BROUGHTON WRITER CARIANNE MARSHALL PUBLISHER BIENSTOCK PUBLISHING CO. ALEX SHAPIRO WRITER BARRY COBURN PUBLISHER COMPOSER WARNER CHAPPELL MUSIC, INC. COMPOSER TEN TEN MUSIC GROUP, INC. JAMES M. KENDRICK PUBLISHER DESMOND CHILD WRITER EVAN LAMBERG PUBLISHER ASCAP BOARD TREASURER, DAN FOLIART WRITER DEAN KAY PUBLISHER SONGWRITER UNIVERSAL MUSIC CORPORATION SCHOTT MUSIC ASCAP BOARD WRITER LICHELLE MUSIC COMPANY PUBLISHER PUBLISHER VICE CHAIRMAN, COMPOSER LAURENT HUBERT LEEDS LEVY MARY MEGAN PEER PUBLISHER JIMMY WEBB WRITER KOBALT SONGS MUSIC PUBLISHING LEEDS MUSIC SONGS OF PEER LTD. KEITH HAUPRICH PUBLISHER SONGWRITER WRITER WRITER BMG GOLD SONGS RICHARD BELLIS RUDY PÉREZ PETER BRODSKY PUBLISHER COMPOSER SONGWRITER MICHELLE LEWIS WRITER SONY MUSIC PUBLISHING SONGWRITER

2020 ANNUAL REPORT Board pictured on February 24, 2021 7 EMILY WARREN SWIZZ BEATZ DAVID VANACORE DIANE WARREN DABABY DADDY YANKEE VICTORIA MONÉT

MAX MARTIN (STIM) JACKSON BROWNE MARY J. BLIGE BLACK PUMAS PHOEBE BRIDGERS MEEK MILL MADONNA GROWTH + REACH ASCAP elected more than 58,000 members in 2020 and is now home to approximately 800,000 songwriters, composers and publishers. We continue to attract and retain some of the world’s most talented songwriters BIG SEAN and composers thanks to the incredible efforts of our Membership team. BEAR MCCREARY

HANS ZIMMER PEDRO CAPÓ GABRIELA LENA FRANK ROSCOE MITCHELL PAUL OVERSTREET CARLOS VIVES PASEK AND PAUL

SHAGGY HENRY JACKMAN AARON DESSNER JOSS FAVELA LIONEL RICHIE AMY ALLEN JOHN MELLENCAMP SUCCESS + IMPACT

MARIAH CAREY ARIANA GRANDE CARDI B OLD DOMINION CARLY PEARCE

First artist with four decades First artist with 3 Hot 100 #1 debuts Most Hot 100 #1 hits Group of the Year at CMAs and ACMs CMAs Musical Event of the Year - of #1 songs in a single year of any female rapper for 3 years running “I Hope You’re Happy Now”

LIL BABY BILLIE EILISH DUA LIPA BTS (KOMCA) THE WEEKND (SOCAN)

Captured spirit of the times with First woman to sweep World’s most-streamed album First all-South Korean act Longest-running #1 single ever on protest song “The Bigger Picture” all 4 major Grammy categories by a woman on Spotify to top the Hot 100 Billboard ’s Radio Songs chart

In 2020, ASCAP members and their incredible music met this challenging moment and succeeded. They wrote and published #1 songs on 27 separate Billboard Year-End Charts, and broke numerous streaming and chart records. They earned the music industry’s highest honors, in every genre imaginable. They made Grammy history. They won Oscars and Golden Globes, CMAs and Pulitzer Prizes, daytime and primetime Emmys, Latin Grammys and World Soundtrack Awards. And so much more.

2020 ANNUAL REPORT 9 BROTHERS OSBORNE JERMAINE DUPRI ADVOCACY PROTECTION When the pandemic hit, ASCAP fought hard CARDI B in Congress for COVID-19 relief measures that would help our members, helping to rally a broad music industry coalition. We made a significant MusiCares donation specifically earmarked to help our members in need as a result of the impact of COVID. We also launched the Music Unites Us website to CASSADEE POPE share vital resources to help our members weather the pandemic. MXMTOON

Later in the year, we introduced the ASCAP Citizen campaign in partnership with HeadCount, to inspire music creators and fans to vote in the 2020 election. The campaign featured content from top ASCAP members like Cardi B, The Go-Gos, Taking Back Sunday, The National, Brothers Osborne, JANE WIEDLIN (THE GO-GO’S) Cassadee Pope, Avenue Beat, Jermaine Dupri and mxmtoon, among many others.

2020 ANNUAL REPORT 10 INNOVATION + EXPLORATION

In 2020, ASCAP sponsored an 11-week ASCAP Lab Seed Project challenge for university students, in partnership with NYC Media Lab, to nurture emerging talent pushing the envelope of music creation tools and experiences to benefit ASCAP members and drive innovation in the music industry.

In addition, The ASCAP Lab welcomed Grammy-winning guitarist and songwriter Vernon Reid (pictured at left) to the group as Artist in Residence. Reid appeared at the NYCML Summit on October 9 in a keynote conversation with ASCAP and finalists from the Seed Project called “A Musician’s Perspective on Innovation and Its Role in the Creative Process.”

2020 ANNUAL REPORT 11 ASHLEY GORLEY SUPPORT DEVELOPMENT

FINNEAS In 2020 we continued to support our members far beyond quarterly royalty payments. As the year began, we presented our Sundance ASCAP Music Café, our only live event of the year and a fantastic showcase highlighting our members from across the musical spectrum. Then, DEVONTÉ HYNES as the year progressed, we reimagined many of our programs, presenting virtual workshops like the Harold Adamson Songwriters Workshop and launching several new online songwriter showcases like ASCAP Presents SPF (Summer Performance Festival), On the Come Up, Latin Acoustic Sounds, Sunday Inspiration and the GABRIEL EDGAR GONZÁLEZ PÉREZ ASCAP + RoadNation Livestream Road-Less Series.

We also shifted our annual conference, The ASCAP Experience, to a virtual format in record time – turning what seemed like an insurmountable challenge into an opportunity to share our message with an even larger audience. Over the course of eight weeks, we hosted 38 sessions featuring leading ASCAP members, with more than 10,000 registered participants from over 120 different countries, who gained unique advice and career development guidance from the best in the industry.

PETEY PABLO Throughout the year we celebrated the incredible success PINAR TOPRAK of our members in a creative new way. We hosted all seven of our awards shows virtually and invited our winning members to collaborate with us so we could create the “show” on social media and allow fans, friends and family to join the celebration. We couldn’t gather in person but we loved getting together in spirit.

2020 ANNUAL REPORT 12 DIVERSITY + INCLUSION

In the wake of George Floyd’s murder by a Minneapolis policeman in May 2020, we launched our Fight for Change resources page, raised money for Color of Change and the NAACP Legal Defense Fund with an employee match program and worked for racial justice and police reform bills on the federal and state levels.

We initiated ASCAP ASPIRE, a new annual paid summer internship program for HBCU students to nurture talent and empower the next generation of Black leaders in the music and entertainment business.

ASCAP recognized Juneteenth as an official company holiday to honor the historical celebration of emancipation in America and also made Election Day a company holiday to give employees more time to exercise their right to vote.

ASCAP also played an important role in an historic Supreme Court victory for the rights of LGBTQ employees by joining more than 200 other companies and organizations to file a “friend of the court” brief, urging the Court to rule that Title VII of the Civil Rights Act of 1964 protects gay and transgender workers from workplace discrimination.

We also proudly partnered with organizations working to address inequities in the music creator community. We continued our partnership with She Is The Music to promote inclusivity and increase opportunities for female music creators, In June 2020, for ASCAP’s celebration of both Black Music Month and Pride Month, and funded New Music USA’s Amplifying Voices program to VERSED: The ASCAP Podcast featured Honey Davenport – a drag superstar, singer-songwriter promote Black and Latinx voices in orchestral music. and activist who has left an indelible mark on New York’s nightlife and beyond.

2020 ANNUAL REPORT 13 DARIUS RUCKER PERFORMS DURING THE 54TH ANNUAL CMA AWARDS Photo by Terry Wyatt/Getty Images