Music Publishing Business Plan

Music Publishing Business Plan-64
Agreements There is no standard form publishing agreement.Various types of the agreement include single song assignment, exclusive agreement for future works and sub-publishing agreement.Have a lawyer draw up your contracts and ensure that the composer has been advised to seek independent advice.

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They will usually actively move to make your songs "work harder." In exchange, the music publisher will get a cut of income generated by your songs.

A music publisher's role is to make deals with songwriters, promote the songs their songwriters compose to musicians and anyone else who may need a song for whatever reason (advertising, a movie, a promotional campaign, etc.), issue licenses for the use of the songs they represent and collect licensing fees.

Building up your contacts in the industry is valuable as well and there are plenty of networking events to attend.

The value of building a good reputation within the industry cannot be overstated.

Music publishers come in a variety of different guises: pop, classical, production (or library) music and print, with a range of combinations, specialisations and variations in between.

You’ll know where your experience and, just as important, your passions lie. The Formalities Anyone starting a business should get hold of a copy of the excellent “No-Nonsense Guide to Starting a Business”, available from here.Choose your sub-publishers carefully and don’t tie yourself into lengthy deals – two or three years is normal.Remember that you can also act as a sub-publisher for other catalogues in your own territory.Other publishing companies are far less engaged with their clients.They tend to evaluate a composition, make a decision about its profitability potential and then "purchase" a chunk of its royalties.The Guide is a good introduction to all aspects of setting up a business – forming a business, tax and NI, VAT, protecting your IP, employment, trading regulations and data protection.One of the first decisions will be what structure the business will take: sole trader, partnership, limited company?Making Money Music is globally ubiquitous – online and offline.Collective licensing is an efficient way of ensuring that such uses are licensed and rights owners remunerated for such use. It is crucial that you register your songs quickly and accurately.If you’re starting out from scratch and don’t have the capital to acquire an existing catalogue then patience is needed, along with the money to keep a roof over your head while you’re playing it.It could well be two years from setting up before you start to see any income.

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