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Performance Rights Societies (or Organizations; whichever you prefer), are essential to how you collect royalties.
In the Unites States, the main one you should be aware of are ASCAP, BMI, and SoundExchange.
What they do is they track and monitor where your music is played (areas like radio stations, movies, television shows, etc) and then you are based depending on how the music is registered.
It's important to note that SoundExchange works a little differently. SoundExchange does not collect publishing royalties. Instead, they collect performance royalties based on the master recording, not just the composition, and then pay those royalties to the artists, recording session players, and record labels.
There's different ways to register music.
If you're the only writer, you get all the wholes share of the writing portion of the revenue stream. If you're also the Administrator or Publisher, then you'll get the entire share of the revenue stream.
It's a lot of information that requires some sitting down and research, but it's worth it! This is just the tip of the iceberg.
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