Be Your Own Publishing Company

Once many people have seen what a publishing company does for them, and how much they have to give up to have a publishing company working for them they may start to search out different options. This especially happens when bands have several copyrights for their songs and are uncomfortable with assigning them to the big companies. One of the options many bands will take at this point is to start up their own publishing company. In doing this, they will be assigning the copyrights to themselves essentially and will never loss any control or ownership of those songs.

It's actually a lot easier to set your own publishing company up than most people think. In fact it will be very similar to getting your band a business license. Your first step will be to contact one of the big performing rights societies, BMI, ASCAP or SESCAC. You want to ask for a “Publisher's Application.” You will also want to request “Writer's Applications” if anyone in your group isn't affiliated with at least one of these societies. Once you have this form, you will have to come up with a name for your publishing company. There will be space for many different names, just in case some of the names you would like are already taken. Other than the name you will also have to start filling in background information on the owner of the new company. Normally the entire band will be the owner(s), so you will need to put each person on the application. You'll also have to add what type of business license the band has. Next will be the tax ID number, but you will have to put “applied for” since the business is new and doesn't have one. Now you can simply send the form in with any fees that you are required to pay. You should get confirmation when your new publishing company is accepted.

You must realize that your publishing company that you've just started is a separate company from your band. That said, you now will need to apply for a new tax ID number and business license. This will be done the same way you did it when your band obtained them. After you've received your ID number, send that in to the society that you originally applied to. Your last step is setting up your publishing company is to open a checking account under the company name. This needs to be done because any checks coming from the performing rights societies will be in the company name and not your personal or band name.

Starting up your own publishing company is a great way to keep more of the money that you will be making, but you must be realistic about your need for one. There are times when a publishing company isn't necessary at all. So, take a step back and look at your band. Where is most of your money coming from? If it is all from live performances and product sales, you don't need to spend extra money on a publishing company. This is because a publishing company is most useful and profitable when your songs are being played on the radio or when you have a record deal, and if you aren't or don't, it wouldn't make sense to start a publishing company now since none of your profits are coming from other people using your song. Holding off until your band makes that step will be the most profitable way to run your business.