The South Carolina Royalty Split Agreement is a legal contract that outlines the division of royalties or profits between different parties involved in a creative work or intellectual property. This agreement is commonly used in the entertainment industry, particularly in music, film, and book publishing. In South Carolina, there are two main types of Royalty Split Agreements: 1. Music Royalty Split Agreement: This type of agreement is specifically designed for musicians, songwriters, and composers. It defines how the song royalties will be split between multiple parties involved in the creation and production of a musical work, such as artists, writers, producers, and record labels. The agreement details the percentage or share of royalties that each party will receive, taking into consideration various factors like performance rights, mechanical rights, sync rights, and digital sales. 2. Film Royalty Split Agreement: This category is relevant to the film industry, involving producers, directors, actors, screenwriters, and other participants. The agreement outlines how the profits generated from the film, including box office earnings, DVD sales, streaming revenues, merchandise, and licensing, will be divided among the different stakeholders. It defines the percentages or shares of royalties each party will receive, considering aspects like production costs, distribution expenses, and the contributions made by each party involved in the filmmaking process. Both types of agreements are intended to ensure fair and equitable distribution of royalties and profits among the involved parties. They serve as a legal protection and provide clarity on financial arrangements, helping to avoid potential disputes regarding revenue sharing. In summary, the South Carolina Royalty Split Agreement is a crucial tool in the entertainment industry, allowing for the proper allocation of earnings from creative works. It ensures transparency and fair compensation for the individuals or entities contributing to the success of a music composition or film production.
South Carolina Royalty Split Agreement
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How to fill out Royalty Split Agreement?
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To qualify, songwriters need to register their live musical performances on BMI.com/live. BMI will pay royalties to both writers and publishers via direct deposit. The distribution from BMI Live will be made quarterly; updates on the program are available on the BMI Live page.
In each accounting month, the label will receive their share of the revenue from the digital service provider (Spotify, Napster, Tidal, etc.). This revenue amount is from the number of streams played multiplied by the revenue per stream. This amount is then split out among the artists that were played in that duration.
A distributor collects royalties directly from stores/streaming platforms on behalf of labels. An artist's label will then collect the recording royalties and distribute them to the artist. If an artist is not with a label, the artist will collect the recording royalties directly from the distributor.
Performance royalties are shared 50/50 between the publisher and the songwriter, so each gets 50% of the revenue. If you are both the songwriter and the publisher for your own music, you will receive 100% of performance royalties.
Performance royalties are paid by Performing Rights Organizations to songwriters and publishers for the public broadcast of music. These royalties come from blanket license fees paid to Performing Rights Organizations by businesses who broadcast music (e.g. radio / TV stations, live venues, restaurants).
Performance royalties are typically split into two equal halves: a writer share (50%) and a publisher share (50%). Performing Rights Organizations (PROs) and Collective Management Organizations (CMOs) collect and account for each of these revenue sources separately.
ASCAP, BMI, etc do NOT collect mechanical royalties. You may have heard that 9.1 cents is earned per download or sale. And that's true (for now it's going up!). So when you sell a song on iTunes, 9.1 cents is owed to the songwriter/publisher of that song.
How does BMI split royalties between songwriters and publishers? One half is designated for the songwriter(s), and the other half is designated for the publisher(s) or copyright holder(s). Learn more about how BMI pays royalties. If you do not have a publisher, you will also receive the publisher's share as a writer.
As explained by Tune Core, the split nods to how much copyright the individual deserves from that particular song. For example, if there are four songwriters working together and it's divided that everyone has an equal percentage, the songwriting split will work out at 25% each.