What are the selling options?
At Songbay, you can sell music and lyrics in a variety of ways and set your own fees:
- As a Download (Allowing personal use only).
- As a Cover version License (Allowing other artists to make a cover version (re-recorded) version of your song or lyric).
- As a License (Allowing your song or lyric to be used by another person/organization for a specific purpose).
- As a Copyright Exchange (Allowing all rights and ownership to be purchased by a Buyer).
This is the most popular selling option at Songbay. In simple terms, a music license is like agreeing to loan a song or lyric to another person. Instead of 'loan', the music industry uses the word 'license'.
This is the most popular selling choice for songwriters at Songbay. In simple terms, a music license is like agreeing to loan a song or lyric to another person for a specific purpose. Instead of 'loan', the music industry uses the word 'license'.
Example uses of these licenses (loans) might be for a website, creating a cover version of a song or lyric, a company video, a radio commercial, film track, etc.
The buyer pays the artist a fee for a license and can then use the work legally (for one single project only).
A license is a great option for both seller and buyer. The seller keeps total control of their work and is also entitled to receive royalties whenever their work is performed or broadcast, whilst the buyer gets to use the work legally without having to own the copyright.
All our licenses are 'non- exclusive' agreements, meaning as a seller, you can sell multiple licenses simultaneously. For example, you could grant a license to 10 different people for 10 different projects and receive 10 royalty shares, potentially quite a profitable arrangement!
The more your work is licensed, the more fees and performance/broadcast royalties you will receive.
We even supply and complete the license agreements between seller and buyer without charge!
Another unique option offered at Songbay is copyright selling.
We allow you to sell the copyright of your work to another person if you wish. The new person then becomes the legal owner and copyright holder of the music or lyric and gains full control of it.
Clearly this is the most expensive option for buyers and (initially), the most lucrative for sellers.
Most composers/lyricists prefer not to use this selling option but some, wishing for higher fees, are happy to sell copyrights.
** It is important to realise that agreeing to a copyright sale means agreeing to relinquish all rights to your song or lyric. Once sold, you no longer have any control over it and no rights to any future income or royalties generated. The new owner would not even need to credit you as the original songwriter/ lyricist. For these reasons, we strongly advise you to think very carefully about choosing this selling option. If in any doubt, choose a license selling option instead.
As with all sales at Songbay, we supply and complete the copyright agreement between seller and buyer without charge.
How much should I charge for my work?
Unlike other companies, we allow you to set your own fees for your work without deducting any commission from your sales. So whatever fee payments you receive at Songbay, you keep!
When uploading your songs and lyrics to our online sellers' area, we advise you on the recommended industry prices, to ensure you do not over or undercharge for your work.