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Hello all my question is along these lines I hope it’s okay that I didn’t start a completely new thread.
I am looking to setup a corporation. I plan to assign my BMI writer royalties to the newly formed corporation. (for the purposes of my question let’s call it Frequencee Music Inc.)
Currently I do not have a publishing entity but would like to set one up with BMI. My question is would I need to setup a separate corporation (let’s call it Frequencee Publishing Inc.) to register the publishing entity to or can I register and assign royalties to go through Frequencee Music Inc. that way both writer & publisher royalties would pay the same company?
Looking at the Publisher application it seems that I can register as an individual or corporation. I am wondering if anyone here that is registered as a publisher runs it through one company or has a separate company for just the publishing entity.
Let me point out that I am looking to register as a publisher in the event that I am entitled to collect publisher’s share on works that I place myself. I would not be looking to sign other composers and start a library.
not sure how normal or common it is. It’s happened to me but not with AS. I am a direct vendor there but I always wondered if some of the other vendors with huge catalogs are made up of various composers like a library within the library. If that was was to happen I suppose your NE deal would have to match with the in perpetuity clause like in the case of AS
Yeah I think that would be likely. Domestic performances from April 2015 are paying out this upcoming royalty distribution for Q2 2015 (January 15th-BMI). Hopefully you may see something in the fall but I wouldn’t be surprised if takes until the following year 2017. Maybe certain foreign PRO’s pay quicker than others. This is all speaking from experience with BMI. They pay the international royalties & domestic together. With ASCAP I believe there are more frequent payouts throughout the year separate for domestic & international. Not sure if that impacts the timeline of international payouts maybe an ASCAP member can chime in.
In general international royalties take longer than domestic. Our PRO’s here in the US don’t log performances overseas. They rely on their international affiliates to report and pay them so they can pay us which can be on a semi-annual or annual basis. It’s not uncommon to see international payouts show up 18-24 months or longer after the performance took place at least in my case. (I’m with BMI) I am sure many here can vouch for that.
Danny,
Not sure that is something someone can answer for you. Most composers would probably shy away from that type of deal & tell you not to do it. I would say go with your gut. If the library is well known for placing music in the genre(s) you work in and you have a collection of tracks that you are comfortable parting ways with for good then decide if it is a chance worth taking.
Based on my own experience (very short as this is my 2nd year) A majority of my tracks have been with NE however I have submitted to a couple of exclusives to diversify. One with a two year reversion if no placements are made & another with this same type of deal you are encountering.
These days it seems like many of these libraries & publishers that specialize in placing music on tv are going more EX vs. NE which seems to be an industry shift. It almost forces you to opt into these types of deals if you are looking for tv placements. I am sure there are exceptions out there but just what I’ve encountered in a short period of time of doing this.
Personally I have reserved what I feel are my stronger tracks for NE and 2nd tier tracks for EX. Whether or not that strategy will pay off is yet to be seen but I can tell you the tracks I have signed away EX I am not losing sleep if I can’t pitch them elsewhere or. I just keep moving & keep creating.
@Chuck Mott: Thanks Chuck! I liked Blues on Mars very much. Different styles from what I do but solid productions & arrangements. I can easily hear your tracks on Pawn Stars if they’re not on there already.
I’m with you Chuck. New to the library game myself I am always looking to hear established composers work especially those who are actively placing their music in the same genres I work in. I can be found on AS, artist name Frequencee. I’ll be sure to check out your page as well.
Chris