Is signing these performances away to an exclusive library, with no up-front payment, totally pointless ?
Yes, pointless based on the parameters of your post. While I’m not advocating giving some library jokers free product, there are other elements you may factor. Should this work be licensed into film/TV productions performed worldwide, every collection society has contrasting policies per their territory. The ‘straight up’ element may not apply, and there may be other income streams that can kick in, such as performers rights and broadcast mechanicals. In theory, SOCAN should pass these earnings on to you based on their reciprocity agreements with sister societies internationally. That is, if there’s a valid cue sheet. There’s a slew of variables. Hope this helps your perspective.
– Mark Holden