With everything about music being so digital today, it's important that people understand exactly how to get paid. PROs help songwriters and publishers get paid for the usage of their music. Whether it be streaming royalties, production credits, or copywriting, there is always money to be made. Today, we got to learn how to monetize music from three gentlemen from the top Performing Rights Organizations.
The panel moderated by Karen Marie Mason gave a room full of artists, producers, and managers a step-by-step guide to receiving royalties. Jason Reddick of ASCAP, Greg Smith of SESAC, and Mitch Martin of BMI spoke about publishing and other forms of online distribution.
One of the most important topics discussed was registering that music. Greg Smith of SESAC, the only for-profit PRO, stressed that it's the artist's job to register their music online. He made it clear that once the music is registered, it's the PROs job to make sure parties get paid. "And if the venues you're performing at aren't registered, we'll handle that," said Smith.
Splits, or the breakdown of pay percentages was another key. All three panelists agreed that splits should be decided before everyone leaves the studio. Jason Reddick exaplined, "It's crucial to have those tough conversations early, because if I have to have them with you, someone is probably not getting paid."
Mitch Martin, warned artists and producers to error on the side of generosity when it comes to splits. "You'll foster a community of creation and people will want to work with you."
A final takeaway from the PROs was to let your music speak for itself. Reddick said, "A lot of people go into a situation thinking, 'Oh Imma go get a deal'...nah go get HOT." Once an artist brings somehting to the table, they can then dictate the deals they make.
