The Complete Guide To Starting A Music Publishing Company
Who decides who gets the royalties when a song gets played on the radio or in a movie theater? The answer to that question is the music publishing company, and if you’re serious about creating and marketing your music, it’s vital that you learn everything you can about how they work and how to start your own music publishing company. Here are 10 tips on what you need to know to get started on the right track!
What is publishing in music?
Music publishing companies are entities that can help artists and songwriters earn money by protecting their copyrights, negotiating licensing deals, and promoting them as artists. Just about any musician who wants to earn income from their music should set up a publishing company, whether or not they have any interest in self-releasing their music on CD or iTunes. The best part is that it’s fairly easy to get started! (Not much of an entrepreneur?
Why do you need it?
If you are thinking about starting your own music publishing company, there are some things you should know. Music publishing is important because it protects artists who create original music. This guide tells you everything you need to know about music publishing so that you can successfully launch your own music publishing company.
The costs associated with starting your own music publishing company are going to vary. Some of them are controllable, while others aren’t. However, before you even get started, you need to be aware of all of them. In order for you to make an informed decision about what kind of budget is going to work best for your business, it’s vital that you know everything that you’re looking at in terms of start-up expenses.
How do you get started?
If you want to get into music publishing, first decide what kind of publishing deal you’re looking for. There are two main types: administered and full-service. Administered deals cover songwriter royalties only; in return, companies agree to pay these writers quarterly via check or electronic funds transfer (EFT). Full-service deals can be more complex.
What will you be doing?
What exactly will you be doing as an independent publisher? Well, your role will depend largely on your business model and industry. If you work in mechanical rights or publishing administration, you may be responsible for keeping track of songwriters’ and publishers’ copyrights and ensuring they get paid properly. You might also deal with collecting royalties from radio stations, TV stations, or streaming services.
Where can you find clients?
When you begin your new music publishing company, you might be surprised at how easy it is to find clients. Obviously, you’ll want to contact songwriters who are already successful and ask them if they need help. And of course, even if you don’t find success there, once word gets out that you started your own music publishing company (even if it’s not yet fully up and running), other songwriters may approach you for assistance.