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FOLIO

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A collection of songs with printed music that is offered to the buying public. The selections may be songs by a particular artist, or of a number of artists. See: RIGHT under "Print Right," CONTRACT-SONGWRITER/PUBLISHER CONTRACT clause #22.

Folio Royalty:

The royalty received by a songwriter (usually from a music publisher) as compensation for folio sales. If the royalty is paid by a music publisher, the royalty rate is defined by the songwriter/publisher contract and usually states the royalty to be 10% of the wholesale selling price for the first 200,000 copies sold, 12% of the wholesale selling price for 200,000 to 500,000 copies sold, and 15% of the wholesale selling price for 500,000 or more copies sold. Since the folio is usually composed of several songs (often with different writers involved), the gross amount would be divided by the number of songs in the folio and each song would receive a proportionate share payment.

Foreign royalty payments for sums received by the publisher from sources outside the U.S. and Canada are normally 50% of all foreign gross receipts.

See: TAX LAW under "Royalty Income."

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