Unclaimed Royalties Alert: Over $400 Million Waiting for Artists - Don't Miss Your Share!
In a groundbreaking revelation, the Mechanical Licensing Collective (MLC) has uncovered over $400 million in adjusted royalties, money that belongs to songwriters and publishers like you. This isn't just an industry update; it's a wake-up call for every artist out there. If you've ever doubted the power of diligent song registration, these figures speak volumes about what's at stake.
Why Every Note Counts
Imagine creating a masterpiece only to realize years later that it had been generating income you never received. This scenario is far from rare. The complexity of the music industry, coupled with the digital streaming boom, has led to substantial royalties going unclaimed. This is not just about ensuring your name is attached to your work; it's about claiming your rightful earnings in an industry where every stream counts.
Decoding the MLC's Discovery
The MLC's announcement underscores a systemic issue: many artists are not fully aware of how royalties work or how to claim them. The staggering $400 million comprises both mechanical and performance royalties, with a significant portion previously lost in translation. What this means for you is that there's potential revenue, possibly yours, sitting unclaimed. This is revenue that could support your artistic journey, fund your next project, or simply acknowledge your contribution to the music landscape.
Step-by-Step Guide to Securing Your Royalties
1. Educate Yourself: Begin with understanding the basics of copyright law, mechanical royalties, and performance rights. Knowledge is power, especially in navigating the music business.
2. Register Your Music: Ensure every piece of music you release is registered with the MLC and performance rights organizations (PROs). Missing this step can mean missing out on earnings.
3. Audit Your Catalog: Regularly review your catalog for any discrepancies in registrations and royalty collections. An unregistered work is a silent work.
4. Engage with the MLC: The MLC is more than a regulatory body; it's a resource for artists to ensure they receive what they are owed. Utilize their tools and resources. For musicians that are looking for a publishing administrator to collect both performance and mechanical royalties consider using SongTrust as we do.
5. Stay Informed: The landscape of music royalties is ever-evolving. Keep abreast of changes in legislation, royalty rates, and best practices for managing your rights.
Beyond the Basics
Taking control of your music's financial future goes beyond just registering your songs. It's about actively managing your catalog, understanding the flow of royalties, and making informed decisions about your music's distribution and licensing.
Your Music Deserves More
As we look ahead, let's not allow another dollar of your creativity to go unclaimed. The MLC's finding is a reminder of the value of your music and the importance of claiming what is rightfully yours. Let this be the moment you take full control of your music's potential, not just creatively but financially.
Together, we can ensure that the music we create resonates not only in the hearts of our audience but also in the acknowledgment and compensation it truly deserves.
Stay tuned for future newsletters where we'll delve deeper into specific aspects of music publishing and equip you with practical tools to navigate the industry with confidence!