All you need to know about royalties
As a musician, are you certain you’re earning fairly for your tireless efforts in the studio and on the road? Or are you unknowingly leaving money on the table? Understanding music royalties is crucial for securing consistent income.
What are Music Royalties?
Music royalties are payments received by musicians, songwriters, and producers whenever their work is played, performed, or reproduced.
The Knowledge Gap: Why Some Artists Miss Out
Many African legends struggle financially, unlike their US counterparts, who maintain a comfortable lifestyle decades after their peak. The primary reason is the knowledge gap. Artists often sign deals without fully understanding the implications.
5 Types of Music Royalties to Know
1. *Mechanical Royalties*: Paid for music reproduction (downloads, streams, physical formats). Organizations like the Mechanical Licensing Collective (MLC) facilitate payments.
2. Performance Royalties: Generated when music is played publicly (radio, TV, live performances, streaming). Organizations like PRS and ASCAP handle collection and distribution.
3. Synchronization (Sync) Royalties:Paid when music is used in films, TV shows, ads, or video games.
4. Print Royalties: Apply to sheet music sales (physical or digital), paid directly to songwriters and composers.
5. Neighboring Rights Royalties: Similar to performance royalties, specific to sound recordings, collected in countries outside the US.
Now that you’re informed, secure consistent income and demand your rights as an artist. Your future – and bank account – will thank you.
