February 13, 1914…The American Society of Composers, Authors and Publishers (ASCAP) was formed in New York City. The Society was founded to protect the copyrighted musical compositions of its members and collect licensing fees from users of music created by ASCAP members, then distribute them to its members as royalties. Its eventual rival performing rights organization, Broadcast Music Incorporated (BMI), was formed in 1939 as radio was coming to prominence as a source of musical entertainment.