The concept of music royalties is very difficult to understand or analyze.
Most Musicians know or have heard about music royalties but do not have the ideal knowledge on how it works.
What are music royalties?
Music royalties are the monies received by right owners (song writers, music producers, Composers, recording artists and other stakeholders) for the use of their intellectual music works.
These payments are monies collected from individuals and companies for the licence use of artists songs.
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Mainly, music royalties are collected from institutions like TV channels, radio stations, streaming platform such as itunes, tidal, google play, spotify, pandora, shazam, audiomack, boomplay, deezer and many others.
The music royalty payments are mostly collected by intermediary bodies and music aggregators that have had agreements with artists to hold some level of rights, that permits them to collect payments on their behalf.
In some cases, music royalties are paid directly to the Musicians themselves, mostly, indie or independent artists.
There are about six (6) different types of music royalties, and we would be discussing in our next lesson.
But before that, take note of the two types of music rights.
In every music ever recorded, two types of music rights exist, that is Composition and Master right.
COMPOSITION RIGHT is the kind of right owned by songwriters and their music publishers.
The composition right covers the melody, lyrics and harmony in the song.
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MASTER RIGHT is the copyright for the particular expression of a composition, created when the composition is turned into a sound recording, and owned by recording artists and sometimes record labels.
I Hope at this point you would be able to briefly explain the concept of music royalties and the parties elegible to collect royalties.
Kingsmotiongh.com would be bringing to you a part two on music royalties, specifically, the six types of royalties.
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