Re: Album Shares - Shareholder Agreement Question
Thanks for the responses guys.
In response to your specific queries Jer,
Those percentages are specifically for songwriting royalties from Socan and CMRRA. Anything we make live is split evenly 5 ways across the board.
We're making an agreement specific to this album, and we're lucky that the writing was always done by one person. It's been discussed thoroughly throughout the band, if it came up that someone wrote the lyrics and someone else wrote the melody I think we would have to discuss it again, but for now, that's not an issue luckily.
The difference between Socan and CMRRA is as follows (taken from the CMRRA website):
"The reproduction of a copyrighted musical work, either on a sound carrier (a record, tape, CD or other manufactured "contrivance") or in a film, television program, commercial or other program, can only be made with the permission of the music publisher involved. CMRRA's business is the granting of such permission, on behalf of the music publishers, the collection of royalties and fees in return for such reproduction and the distribution of such revenues to its publisher principals.
When a copyrighted song is played on the radio or television, or performed in a theatre or concert, that's an exercise of the performance right in the song. The publisher and songwriter get their compensation for such use from SOCAN, a performing rights society which collects revenues from broadcasters and others for the public performance of musical works. CMRRA is not in the performing rights business."