Word: ascap
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Eugene Edward Buck, the man who rode high and handsome as president of ASCAP (American Society of Composers, Authors & Publishers) while it grew into a $7,000,000-a-year business, lost his job last week. ASCAP's directors elected in his stead Critic-Composer Deems Taylor...
Abandoning its first goal of becoming a third party in the ASCAP-BMI feud last spring, the Harvard Association of Songwriters this year plans to run on the Network a program of the songs written for the Hasty Pudding Show which is not being given...
Terms of the contracts were substantially those agreed on with NBC in August (TIME, Aug. 11). It took three months to get affiliated stations to ratify, though the stations are the principal beneficiaries. Instead of paying ASCAP 5% of net receipts from time sold, as in the old days, they will now rebate to the networks 2¾% of network-derived revenues for the privilege of using ASCAP music. Instead of nothing, as before, on their commercial business the networks will pay ASCAP 2¾% of their net receipts. Network-operated stations will...
...this means that ASCAP may expect to clear at least $1,000,000 less per year than before...
Weary of a battle that has cost it $4,000,000 in lost revenue this year, ASCAP was glad to sign up for little more than one-third of its original demand (7½% of network commercial revenues). The networks were glad, too. Consulting ASCAP's catalogue before scheduling practically any piece since Stephen Foster has been a troublesome chore. Mutual, which signed up with ASCAP in May, has found since then that nearly half of its most frequently played songs are ASCAP songs...