There are a plethora of income streams available to artists in the current music economy, but owing to the convoluted way in which the industry operates, many musicians don't know where or how to collect their hard earned money. Here we look at some key steps to take to ensure you're getting your due.
Guest post by Bo Turner of Repost Network
There are a ton of revenue streams that artists have access to in today’s music industry, and often times many of them go uncollected. Because there a lot of musicians unaware of the different organizations that hold your money, here are just a few things you should do in order to collect your rightfully earned royalties:
Register With a Performing Rights Organization
When artists have their songs played in a public setting, a portion of the revenue generated technically belongs to them. Performing rights organizations (PROs) are government-regulated organizations that collect and distribute this money back to the original songwriter(s). The songwriter has the ability to collect this money, but if they aren’t registered with a PRO that generated revenue will go unclaimed. Make sure you are registered with one of these companies after any release of yours so you can claim this VERY valuable revenue stream!
Register with SoundExchange
Artists are entitled to collect a portion of revenue any time their song is played on a radio or other non-interactive service. In order to do this, that artist must be registered with a company called SoundExchange. SoundExchange is another PRO that collects this specific revenue from non-interactive services and distributes them back to songwriters entitled to those royalties. Again, very important to be registered with SoundExchange to collect after your song is released. Click here to get started!
Register your Catalog with Music Reports
Music Reports owns a database called SONGDEX that includes tons of rights information for all the music registered with the platform. Registering your track with SONGDEX will ensure that you are able collect royalties from a number of streaming platforms. Click here to get started with your Music Reports registration!
Make sure you keep up with the different organizations that can bring in the money generated from your music. Don’t let any of YOUR rightfully earned money go unclaimed!