Welcome to a year of change!
ASDACS is pleased to welcome Di Drew and confirm the re appointment of Grant Campbell, Kevin Lucas, Megan Simpson Huberman, Pat Fiske and Stephen Wallace to the ASDACS board. Many thanks to all incumbent board members for their unwavering passion. Our gratitude goes out to Stephen Wallace for his exceptional service, his knowledge is incalculable.
ASDACS Executive Director, Deb Jackson and her team continue their exceptional understanding of the global nature of our endeavours and are to be congratulated on ensuring maximum returns during COVID. ASDACS’ income increased 30% compared to the same period last year.
The board unanimously agreed to adjust the year end accounts from a calendar year end to a financial year end starting 1 January 2021. A six-month financial report ending 30 June 2021 was produced to bring the accounts into alignment with the new financial year (1 July – 30 June) and can be found here. Key highlights from the period can be found below.
Scott Hartford Davis,
ASDACS Chair 2021
Key highlights (1 January – 30 June 2021):
Financials:
- Income for the six-month period was $232,309, including interest and membership fees.
- A total of $60,457 was transferred to Distributable and Cultural funds.
- Collections for the six-month period totalled $222,135 (+30%).
- Distributions to members during the six-month period totalled $97,731.
- No administrative cost percentage was determined for this six-month period. (The costs shall appear in the next financial year accounts when determining the administrative percentage to be applied against the next distribution).
Cultural and Charitable purposes fund:
- $10k was donated to the Motion Picture Industry Benevolent Fund (to assist directors and industry professionals in need).
Development fund:
- $16,355 in total was spent ($3,130 was spent on database development and $13,225 of expired funds was distributed to members).
Membership and new copyright assignment:
- Membership increased to 1343 (+3%).
- Implementation of the new membership assignment progressed, with over 700 members signed up to the new membership terms.
Global Collections and Collecting Society Partnerships:
- CISAC reported only a small -0.01% drop in 2020 global audio-visual collections despite COVID (Digital collections are up +38.8% in countries that collect from digital rights).
- 37 total international collecting society agreements.
- 6 international collecting society negotiations continue.