Music Publishing Agreements
A music publishing agreement governs the relationship between a songwriter and a music publisher, covering ownership, administration, and exploitation of musical compositions. Publishers register compositions with PROs, license them for synchronization and mechanical reproduction, collect royalties, and handle copyright administration — in exchange for an ownership share of the publishing copyright. Publishing structures range from full publishing deals (publisher owns 50% of copyright) to co-publishing deals (songwriter retains a share of the publisher's interest) to administration-only deals (publisher takes only an admin fee, songwriter retains 100% ownership).
Music publishing is one of the most valuable and long-lasting assets in entertainment — major song catalogs sell for hundreds of millions of dollars. The publishing agreement is the foundational document that determines what percentage of that value a songwriter retains for the duration of copyright (potentially 95+ years). Understanding publishing deal structures, the implications of different copyright splits, and the termination right dynamics is essential for attorneys representing songwriters at any stage of their career.
Compulsory mechanical license — publisher's primary licensing obligation is to issue mechanical licenses for digital streaming, now administered through the MLC.
Termination rights — songwriters can recapture transferred publishing rights 35 years after the grant, regardless of contract terms. Non-waivable.
Federal consent decrees governing ASCAP and BMI's licensing practices, ensuring they offer licenses to all applicants at reasonable rates — directly affecting how publishers' performance royalties are collected and distributed.
The music publishing market has been transformed by catalog acquisitions from private equity and specialized funds (Hipgnosis, Primary Wave, KKR). These acquisitions have established high valuations for publishing catalogs — often 20-30x annual net publisher's share. For songwriters, this creates both opportunity (catalog sales at premium prices) and risk (giving up long-term income for a lump sum). The MMA's establishment of the MLC has also improved mechanical royalty collection efficiency, increasing the value of publishing catalogs.
Advise songwriter clients that a co-publishing deal (typically 75% songwriter share including publisher's share) is significantly more favorable than a traditional 50/50 deal — the difference compounds over a copyright's 95+ year life.
Negotiate a reversion clause — if the publisher fails to secure a commercial recording or sync placement within a defined period, the compositions should revert to the songwriter.
Sync approval rights are critical for songwriter clients who care about their work's commercial associations — negotiate approval rights over advertising placements, especially in potentially objectionable categories.
Advise songwriters that catalog sale proceeds are generally taxable as capital gains if the catalog is held long enough — but the tax treatment depends on structure and holding period.
The 35-year termination right cannot be waived — counsel songwriter clients to track their termination windows and assess whether recapture makes sense when the window opens.
Publishing deal structures range from full publishing (50/50 split) to co-publishing (75% songwriter) to administration-only (100% songwriter, admin fee only) — the difference is enormous over a copyright's life.
Administration-only deals give songwriters full ownership with professional administration services for a fee — the most favorable structure for established songwriters.
The 35-year termination right allows songwriters to recapture publishing grants regardless of contract terms — publishers cannot waive this right in advance.
Sync approval rights are often the most practically important negotiating point for songwriters who care about their music's commercial associations.
Music publishing catalogs have become major financial assets — understanding how they're valued and sold is increasingly important for music attorneys.
In a full publishing deal, the publisher typically owns 50% of the copyright (the publisher's share) and the songwriter retains 50% (the songwriter's share). In a co-publishing deal, the songwriter also owns a portion of what would otherwise be the publisher's share — typically giving the songwriter 75% total. An admin deal gives the songwriter 100% ownership with the publisher taking only a percentage fee for administration services.
Musical composition royalties are traditionally split 50/50 between the songwriter's share (paid to the writer regardless of who publishes) and the publisher's share (paid to the publisher). In a 50/50 full publishing deal, the songwriter receives 50% as the writer and the publisher receives 50% as the publisher. In a co-publishing deal, the songwriter also receives a portion of the publisher's share.
The publishing grant terminates — the songwriter (or their heirs) recaptures the copyright, including the right to administer and exploit the compositions. The publisher loses their share of future royalties from the recaptured compositions. Derivative works already created can continue to be exploited, but no new uses can be made without the songwriter's permission.