One song. . Miss this and you misread every deal, statement and negotiation.
Take a track that lands in a Netflix trailer. To the artist it reads as one win. Behind the scenes, two completely separate cheques are about to be written, arriving from different organisations, at different times, possibly into different bank accounts.
Every song generates money from two pots. Not one. Two. Miss this distinction and you will misread every deal, every statement, and every negotiation you ever review.
Pot one: the master. This is the specific , the audio file that came out of the studio session. Whoever paid to make it (or owns it by agreement) receives income.
Pot two: the publishing. This is the underlying , the melody and the lyrics, the song beneath the recording. Whoever wrote it (and registered it) receives income.
The same event (one stream, one , one radio play) triggers both pots simultaneously. They are collected by different bodies and can flow to completely different people.