In the age of the internet where anyone can make a song and post it to various platforms or streaming services, how do you know if you are getting every penny you are entitled to? The first step is to use split sheets for any music that has more than one songwriter and/or if the songwriter is not the performer or creator of the actual musical compostion (instruments, beats, production). Split sheets list everyone involved in the creation of the song along with their artist identifying information and the percentage of royalties each individual is entitled to.
The second step is to make sure everyone is registered with a PRO (Performing Rights Organization) such as ASCAP or BMI. These agencies collect performance royalties and distribute them to the songwriters and publishers. The song needs to be registered with a PRO and you will need each person's IPI# from their respective PRO.
If you distribute the song to internet radio or non-interactive streaming services such as Pandora or iHeart, you will also need to register the song with SoundExchange. They collect royalties from Satellite Radio, Internet Radio, and non-interactive streaming services.
If you are not signed to a publisher, then it is a good idea to setup your own publishing company. Certain royalties, such as mechanicals, are only paid to publishers and they are NOT paid through PROs. You will have to use an agency such as Harry Fox or The Mechanical License Collective to gain access to publishing royalties owed to your publishing company.
If you would like more information about these topics, I offer Music Business Conuslting as a service. I also offer Music Adminstration services such as registering your music and/or uploading music to your distributor.
