Tuesday, October 6, 2015
Top 3 Reasons for Songwriters to Invest in Intellectual Property
You will probably be wondering why I specifically mentioned ‘international market’. The reason is pretty simple. It is for the copyright laws in place that protect your work, and performing rights societies that pay you royalties on your works. That is reason number one for you to, especially, target creating music for markets that protect your musical work and by so doing, your bread and butter. The second reason why intellectual property is key to your success in the music business—even when you do not perform your own songs—is because you get to earn residual income. One of the big sources of publishing revenue you’ll earn as a songwriter is performance royalties. But an even bigger income stream comes from music publishing in mechanical royalties. In other words, every time a song you’ve written is manufactured to be sold on CD, downloaded from a digital music retail site, given radio airplay, streamed through services like Spotify, television, film and even played in bars and clubs, you are owed a mechanical royalty.
And now here’s the third reason for songwriters to invest in intellectual property. Not everybody is of the ideal age or visual appearance to make it as an artist, but that doesn’t mean you should give up on your dreams. Writing great songs for other artists is another, perhaps more subtle way, to a splendid income doing what you love best, creating music. I hope this article has helped shed light on what else you can do to achieve your dreams in the music business.
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Posted by Creative Spinner at 11:55 PM