This insightful video breaks down 7 forms of income musicians can generate if they have their publishing game on point.
This includes being registered as a songwriter/composer with a Performing Rights Organization such as BMI, ASCAP or SESAC in the U.S. You also need to register with Soundexchange in order to collect satellite radio, internet radio and other forms of digital streaming royalties.
BMI and ASCAP also allow you to report live shows and will pay out royalties for your live performances. If you tour or gig regularly, this will add up!
Thanks to Cappriccieo M Scates of SESAC for the knowledge.