So you have successfully created your first music album and you want to start generating some money from it with music royalties. Royalties come in different forms. As the owner of the intellectual property in the music you have created, you can create different streams of income by licensing different rights to your licensees. Here is an intellectual property summary on the difference between the three main types of music royalties:
As the label suggests, the licensee has the right to perform the music from their album in public places or broadcast it. The licensee can perform the music live either on stage live, over the radio, on television, and in hotels and clubs.
The licensee has the right to reproduce the music onto some type of media such as CDs, DVDs, records, and tapes. These can even include ringtones, musical toys, and downloaded tracks. The royalties are paid based on the number of records sold.
The licensee has the right to adapt the music to a soundtrack for film, television show, commercial, and radio. Because the music is being synchronized to a commercial or film, they are synchronization royalties.
There have been many suits over music and intellectual property rights (most recently we posted about both Eminem and Iggy Azelea filing for copyright infringement).
Musicians deserve to devote their time to creating music rather than worrying about how to secure their contracts and other IP documents. Our IP Vault is the perfect solution.