ASCAP will reveal today (Feb. 10) that its revenues reached an all-time high of $668 million in 2003. This is an increase of 5.2% from the previous year. The previous revenue high came in 2001, when t

ASCAP will reveal today (Feb. 10) that its revenues reached an all-time high of $668 million in 2003. This is an increase of 5.2% from the previous year. The previous revenue high came in 2001, when the performing rights group recorded $646 million.

ASCAP also reports an all-time low operating expense ratio of 13.9%.

The figures are to be announced today at the group's annual West Coast membership meeting at the Beverly Hilton Hotel.

"The development of new cutting-edge technology, such as Mediaguide, our continued focus on cost reduction and our commitment to negotiating the best licensing deals for our members have contributed to our success," CEO John LoFrumento says in a statement.

LoFrumento says that over the past three years, ASCAP has distributed more than $1.6 billion to its members.

The rights group, which is celebrating its 90th anniversary, says it currently has 175,000 members, 20,000 more than last year.