4 Things All Songwriters Should Know About the Music Industry
The music industry is an exciting yet complex space where songwriters play a crucial role in creating the hits we hear every day. While talent and creativity are essential, understanding the business side of music is just as important for long-term success. Here are four key things all songwriters should know about the music industry:
1. Understanding Publishing and Royalties
Songwriters make money primarily through publishing and royalties. It’s essential to understand how these revenue streams work to ensure you get paid fairly for your work.
Performance Royalties: Earned when your song is played on the radio, in public venues, or streamed online. These are collected by Performance Rights Organizations (PROs) like ASCAP or BMI in the U.S.
Mechanical Royalties: Earned when your song is reproduced, such as through streaming services, CDs, or downloads.
Sync Licensing: When your song is used in TV, films, commercials, or video games, you earn a licensing fee. Sync deals can be very lucrative for songwriters.
Songwriter Splits: If you collaborate with others, make sure you establish clear agreements on song splits before releasing the song to avoid conflicts later.
2. Networking and Relationship Building Are Essential
Success in the music industry isn’t just about writing great songs—it’s also about who you know. Building relationships with artists, producers, publishers, and music supervisors can open doors for new opportunities.
Collaborate with Other Songwriters and Artists: Co-writing can expand your creativity and increase your chances of landing a placement.
Attend Industry Events and Conferences: Events and songwriting camps are great places to network and meet industry professionals.
Leverage Social Media and Digital Platforms: Platforms like Instagram, TikTok, and LinkedIn can help you connect with people in the industry and showcase your work.
3. The Business Side of Songwriting Matters
Songwriting is not just an art; it’s also a business. If you want a sustainable career, you need to treat your craft professionally.
Sign Up With a PRO: This ensures you receive royalties when your songs are played publicly.
Register Your Songs Properly: Always register your songs with organizations like BMI, ASCAP, to claim your earnings. Once you have songs that are successful worldwide you should consider signing a global publishing administration deal. Trusted companies like Elizabeth Music Group offer an admin deal that allow you to maintain full ownership of your compositions.
Understand Contracts and Deals: If a publisher, label, or manager approaches you, always have a lawyer review any agreements before signing. Understanding terms like advances, recoupment, and ownership percentages is crucial.
4. Persistence and Adaptability Are Key to Success
The music industry is constantly evolving, and success doesn’t happen overnight. Persistence and adaptability are essential traits for long-term success.
Rejection Is Part of the Process: Even the biggest hitmakers have faced rejection. Keep writing, learning, and improving your craft.
Stay Updated on Industry Trends: Follow industry news, understand how streaming and distribution are changing, and be open to new opportunities such as sync licensing and independent releases.
Diversify Your Income Streams: Explore different revenue sources like writing for different genres, working on film/TV projects, and offering songwriting services.
Conclusion
Being a songwriter in today’s music industry requires more than just talent—you need business knowledge, strong relationships, and resilience. By understanding publishing, networking effectively, managing the business side of your career, and staying adaptable, you can build a sustainable and successful career in songwriting. Stay persistent, keep honing your craft, and take control of your future in music!
