DesireInspires wrote:I have heard that if a songwriter is with BMI, s/he can receive the publisher's royalties without formally setting up a publishing company. But I still think BMI songwriters should set up a formal publishing company anyway.CHuckmott wrote:Congrats on this , that is great news.....question though, and it isn't my intention to hijack the thread, but in my PRO I'm registered as writer and publisher and always list myself as publisher. WHat is the difference persay in doing that and setting up your own publishing company? And the advantages?
I am with ASCAP. I set up my publishing company the same time I registered as a songwriter. I know for ASCAP, the songwriter cannot collect publisher's royalties. The songwriter must form a separate company.
This may sound harsh, but if I were in a band, I would want to get as much money as I could. I would not take any chances on missing out on royalties. I would sign up as a songwriter and a publisher.
Remember, as a publisher you can buy or obtain the rights to songs written by other people and make money. That is exactly how music libraries make money. They get hundreds of songwriters to make music and collect royalties for being the publisher. If 500 songwriters generated $200,000 per quarter as a whole, the publisher(s) would also be getting $200,000.
Do what you love, but always follow the money.
Do what you love, but always follow the money
So in fact
MONEY INSPIRES
