I was referring to the MCPS system which covers traditional folk songs as well. It works on percentages. The percentages are then divided by sales and radio play logs.
For example if you record your version of Died for Love, MCPS will check which was the best selling artist who recorded it then make a percentage payment right down the line. So if Joe Bloggs records it next year then you are supposed to be on the list. The problem is that the money is divided unequally. So if for sake of argument Steeleye record it and sell the most CD's they get the most money.
Like I said it stinks. PRS are another kettle of fish. The big names have their own publishing companies, however on the folk scene internationally there are a few Labels who also have Publishing rights, and it usually ends up with the artist getting naff all.
I will not deal with them. I took back control of my music after my first recording contract, formed my own company , registered it with the board of trade and stuck with it. It's worked since 1980. I was approached by a man who will remain nameless, who incidentally is trustworthy and a decent guy, to see if I wished to purchase back my own music from the label he had bought out. There is the rub, and you can't sit on the fence. So the big question is who has control you or some other individual. The musicians/writers have one answer the business man has another. I am no more important than any other singer who sings for the people. I have been lucky enough to have had a lot of success, but it changes nothing! Your song is your own, who you sing it to or for is your affair, and no suit with a lot of money is going to tell me otherwise. (No offence Howard!)