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What is Music Publishing and Royalty Agreement?
Music Publishing and Royalty Agreement An agreement for music publishing and royalty distribution, specifying royalty rates, distribution channels, intellectual property rights, and revenue-sharing arrangements.
Sample template:
MUSIC PUBLISHING AND ROYALTY AGREEMENT
This Music Publishing and Royalty Agreement (the "Agreement") is entered into as of the Effective Date by and between Harmony Sounds Publishing ("Publisher"), having its principal place of business at [Address], and SonicWave Distributions Inc. ("Distributor"), having its principal place of business at [Address] (each, a "Party," and collectively, the "Parties").
1. Grant of Rights
1.1. Grant of License
Subject to the terms and conditions of this Agreement, Publisher hereby grants to Distributor a non-exclusive, royalty-bearing license to reproduce, distribute, publicly perform, and publicly display (collectively, "Exploit") Publisher's designated catalog of original musical compositions ("Compositions"), which span various genres, including classical, jazz, and electronic, for the Territory defined below.
2. Territory & Distribution Channels
2.1. Territory
The distribution and licensing rights granted under this Agreement shall be limited to the United States.
2.2. Distribution Channels
Distributor shall only Exploit the Compositions through the following distribution channels, which shall be collectively referred to as the "Channels": digital download stores, streaming platforms, radio and television broadcasts, and synchronization licenses for advertisements, television shows, movies, and other audio-visual projects.
3. Royalty Rates & Revenue Sharing
3.1. Royalty Rates
Distributor shall pay Publisher revenues generated from the Exploitation of Compositions through the Channels based on the following royalty rates:
a. Digital Downloads: Seventy percent (70%) of the Net Revenues.
b. Streaming: Fifty percent (50%) of the Net Revenues.
c. Radio and Television Broadcasts: Twenty percent (20%) of the Net Revenues.
d. Synchronization Licenses: Fifty percent (50%) of the Net Revenues.
For the purposes of this Agreement, "Net Revenues" shall mean the gross revenues actually received by Distributor from the Channels, less any taxes, currency conversion fees, payment processing fees, and any other reasonable, customary, and necessary deductions.
3.2. Revenue Sharing
Distributor shall account to Publisher for the accrued royalties within forty-five (45) days following the end of each calendar quarter during the Term, and shall remit to Publisher all royalties due for that quarter, along with a statement detailing the Channels through which the Compositions were Exploited, the revenues generated therefrom, and the calculation for the royalties due.
4. Intellectual Property Rights
4.1. Ownership & Moral Rights
Except for the license granted herein, Publisher retains full ownership of and title to, all copyrights, trademarks, and other intellectual property rights in and to the Compositions. Distributor recognizes and agrees that any and all uses of the Compositions made under this Agreement shall be attributed to Publisher, and Distributor shall not engage in any action or omission that would infringe upon or disparage the moral rights or other intellectual property rights of Publisher.
5. Term & Termination
5.1. Term
This Agreement shall commence on the Effective Date and continue for a period of three (3) years (the "Initial Term"), unless earlier terminated as provided herein. After the Initial Term, this Agreement shall automatically renew for successive one (1) year periods (each, a "Renewal Term") unless either Party provides written notice to the other Party of its intent not to renew at least thirty (30) days prior to the expiration of the then-current term.
5.2. Termination for Breach
Either Party may terminate this Agreement in the event of any material breach by the other Party that is not cured within thirty (30) days following written notice of such breach.
6. Governing Law & Dispute Resolution
This Agreement shall be governed by and construed in accordance with the laws of the United States. Any dispute, controversy, or claim arising out of or in connection with this Agreement shall be settled through good-faith negotiation between the Parties. If the Parties are unable to resolve the dispute through negotiation, the dispute shall be resolved by a court of competent jurisdiction in the United States.
7. Representation & Warranty
Each Party represents and warrants to the other Party that, as of the Effective Date, it has the full right, power, and authority to enter into and fully perform this Agreement, and that the execution, delivery, and performance of this Agreement will not conflict with any agreement or obligation to which such Party is bound.
8. Miscellaneous
This Agreement constitutes the entire understanding between the Parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements, whether oral or written, between the Parties relating thereto. This Agreement may be modified or amended only by a writing executed by both Parties. Failure of either Party to exercise any right or remedy under this Agreement does not signify acceptance of the event giving rise to such right or remedy. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. Neither Party may assign its rights or obligations under this Agreement without the prior written consent of the other Party.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.
[Harmony Sounds Publishing]
______________________________
[Authorized Signature]
[Printed Name and Title]
[SonicWave Distributions Inc.]
______________________________
[Authorized Signature]
[Printed Name and Title]
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Main Sections of a Music Publishing and Royalty Agreement
In this Music Publishing and Royalty Agreement, you will see the following sections:
- Grant of Rights
- Territory & Distribution Channels
- Royalty Rates & Revenue Sharing
- Intellectual Property Rights
- Term & Termination
- Governing Law & Dispute Resolution
- Representation & Warranty
- Miscellaneous
About each Section - Analysis and Summary:
- Grant of Rights : This section explains that the Publisher is giving the Distributor permission to use their music catalog in various ways, such as reproducing, distributing, and publicly performing the music. However, this permission is not exclusive, meaning the Publisher can also grant these rights to other distributors.
- Territory & Distribution Channels : This section outlines the geographical area where the Distributor can use the music (in this case, the United States) and the specific ways they can distribute the music, such as through digital downloads, streaming platforms, radio and television broadcasts, and synchronization licenses for audio-visual projects.
- Royalty Rates & Revenue Sharing : This section details how much money the Distributor will pay the Publisher for using their music. It breaks down the percentage of revenue the Publisher will receive from different distribution channels, such as digital downloads, streaming, radio and television broadcasts, and synchronization licenses. It also explains when and how the Distributor will report and pay these royalties to the Publisher.
- Intellectual Property Rights : This section clarifies that the Publisher still owns all copyrights, trademarks, and other intellectual property rights in the music, even though the Distributor has permission to use it. The Distributor must also respect the Publisher's moral rights and not do anything that would harm the Publisher's reputation or rights.
- Term & Termination : This section explains how long the agreement will last (three years initially, with the possibility of automatic one-year renewals) and how either party can end the agreement early if the other party breaches the contract and doesn't fix the problem within 30 days of being notified.
- Governing Law & Dispute Resolution : This section states that the agreement is governed by United States law and that any disputes between the parties should first be resolved through negotiation. If negotiation fails, the dispute will be settled in a court of competent jurisdiction in the United States.
- Representation & Warranty : This section contains promises from both parties that they have the legal right and authority to enter into the agreement and that doing so won't conflict with any other agreements or obligations they have.
- Miscellaneous : This section covers various general provisions, such as stating that the agreement is the entire understanding between the parties, that it can only be changed in writing, and that it is binding on both parties and their successors and assigns. It also states that neither party can transfer their rights or obligations under the agreement without the other party's consent.
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