What does a lyricist receive when a licensed lyric is turned into a song?

The lyricist receives the full agreed licence fee and a 25% share of the musical composition. The lyricist must be credited and registered as a co-writer. The lyricist retains ownership of the original lyric and may continue licensing it for other projects.

The buyer contributes the original music and the creative and financial work involved in arranging, performing, recording and producing the completed song. The 25% composition share does not create a share in the new master recording or the buyer's wider project income.