1) ADVANCE – It’s a pre-payment of royalties paid by the record label to an Artist, Producer, publisher to a writer, or merchandiser to an artist.
2) POINTS ON THE MASTER:- It’s a percentage of revenue earned by the song. One point equals to 1 percent, points can be rewarded for a full album or a specific song.
3) PERFORMANCE ROYALTIES – These are collected & paid by performing rights organizations like ASCAP or BMI off the compositions. I suggest every artist/Producer make an ASCAP or BMI (Note- you can’t have both) Let me know in the comments if yall want me to go into detail about this.
4) PUBLISHING ROYALTIES – It is earned by licensing your composition onto sheet paper, printed in songbooks for the general public to purchase and play your music. It may be only applicable if you have top 40 radio hits.
5) SYNC FEES – It is earned when your songs/composition is used on TV, Commercials, movies, or advertisements.
But before any of these, If you have a major placement, hire a lawyer to look over your contracts. It’s very IMPORTANT.