As a composer, there are numerous ways to monetize your music creations. The revenue can be classified into four distinct categories, which are as follows:
Mechanical Royalties: This revenue is earned from various sources such as interactive/on-demand streaming, digital downloads, physical products (such as vinyl and CDs), and ringtones. The mechanical royalties are paid to the songwriter, composer, or publisher each time their music is sold, streamed, or downloaded.
Public Performance and Broadcast Royalties: This revenue category is earned from interactive/on-demand streaming, digital radio, traditional radio, TV shows, live concerts, and various establishments such as bars, restaurants, and gyms. The public performance and broadcast royalties are paid to the songwriter, composer, or publisher each time their music is played or performed publicly.
Synchronization Licensing Fees: This revenue category is earned from licensing music for TV shows, films, commercials, video games, and other similar media. The synchronization licensing fees are paid to the songwriter, composer, or publisher each time their music is used in such media.
Print Royalties: This type of revenue is earned from the sales of sheet music (both online and physical) and songbooks. The print royalties are paid to the songwriter, composer, or publisher each time their music is sold as sheet music or songbooks.
In summary, understanding how you can monetize your music compositions can help you earn a consistent and satisfactory income from your work.
