Business Day Contributor, Seyi Xodus engaged Kayode Okuneye, Publishing Administrator and Royalty Coordinator of Replete Music on the rudiments of music publishing.
How will you explain music publishing to a 5 year old?
Simply put music publishing is another way artists make money from the music they make, when a song is created it means that a songwriter which in most cases is the artist alone or the artist with help from other songwriters and a producer that makes the beat have created a piece of music or composition. From that composition the artist makes money from distribution which involves digital sales, streaming, licensing for use in movies and games, license from sampling which for example you hear a song that sounds familiar and you find out a new artist sampled an old song, the old artist’s song that was sampled makes money from that transaction. Publishing is a different way to make money for years to come even after the years of fame.
How receptive is the Nigerian music industry to music publishing?
The Nigerian music industry is still blooming as it is being embraced by the international audience/market, there is a structure that is coming with that collaboration as certain standards need to be met in regards the music we are now exporting on a global scale and it would surprise you how many A-list artists that still don’t have their publishing sorted out but as there are more international collaborations higher standards are rubbing off and we are getting better with documentation and music business sense.
What are the major challenges you face as a publisher?
A few of the major challenges we have been through in the Nigerian market is lack of proper understanding of what publishing is and how that income comes in over a period of time. The process of proper documentation from contracts to signing of Split agreements, songwriters and producers percentages which determine how the royalties would be split when they come which has fundamental as it might be is one of the issues that slows down the processes.
What are the benefits of signing to a publishing company?
Benefits of signing to a publishing company can be likened to making money and that money is being saved by a company for you and due to ignorance, that money is not collected. The money keeps accumulating and when not collected is often reassigned in Nigerian terms your inheritance from your father is being kept by your uncle who is waiting for you to come and collect it. The publishing company helps track down the royalties that are due to you and also pitch your music catalog for sync in movies, advertisements, games and more amongst other ways your publisher tirelessly exploits your music catalogue.
How do publishing companies make money?
Publishing companies make money from collecting royalties mostly which is just one of the main reasons why you need a good publisher as there is also sync which is the use of your music in movies, tv shows, video games, advertisements and YouTube videos
How important is the role of royalties in music publishing?
Music is a product and knowledge is key in proper marketing, distribution and in the life span of the product getting the right return on investment. Royalties is what is paid for the use of an idea, in this case music.
See also: Record labels are not charity organisations.
If you can change one thing in the Nigerian music industry, what will it be?
One thing I would want to change in Nigerian music industry is people’s perception of reality and this cut across different aspects from originality to collaborations to honing your craft, many musicians are easily swayed by designer fit, fast cars and lavish living which is nice when you can afford it but music is a business and the musician needs to invest in his own career in order to get the right outcome.
Seyi Xodus.
