Music Publishing
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Introduction
For a music publishing wing to be set up in a Record Company would be a great asset as it would increase profits for the company as it would receive royalties from MCPS (Mechanical Copyright Protection Society) and PRS (Performing Right Society) this would enable a whole catalogue of writers and composers to work with existing Record Company artists as well as artists who are not signed to the Record Company. All of the Major Record Companies have their own publishing wing, for example, Warner/Chappell and Sony/AVT. The set up of the publishing wing could possible be in the existing Record Company which would lower initial outlay costs and overall does not cost much to set up. As having the existing Record Company's name, this will give the publishing wing an automatic advantage in the industry as the Record Company is already established with the media and the general public.
The structure of the publishing company is very similar as to a record company with a acquisitions (A&R) department who decides if a piece of work is suitable for the publishers, administration who would deal with legal and general business interests, sub publishers/licences who deal with foreign labels and film companies to use authors material for example, Echo Records do not have a US and European label so Echo licensed 'Feeder's 'Comfort in Sound' Album to Road Runner Records in America and Europe.
Business Roles and Start Up
The first initial step when setting up and creating a publishing company is the name of the company. If the name of the 'new' publishing company is similar to an existing publishing company than it will have to be changed for the 'new' publishing company to become a member of MPA (Music Publishers Association) and this would be a major downfall for any new publishing company as the MPA is a very useful tool to the publisher as the MPA sets guide lines for publishers to make the Music Publishing Industry fair. The MPA released a publication titled 'Guidelines to Good Practise in Music Publishing'. This guide contains all the essential information for publishing companies to help understand the publisher's roles from topics such as exploitation and creativity to administration and public relations.
All publishers must join the Music Alliance which is an organisation of the two Music Industry bodies MCPS (Mechanical Copyright Protection Society) and PRS (Performing Right Society) who receive royalties from film, television, radio, etc and give the assigned royalty payments to the music publisher who will distribute the money to their clients...