Quick Definition
A Master Recording (or "The Master") is the official, original recording of a song. It is the specific audio file that is replicated for distribution. Owning the master means you own that specific version of the recording, distinct from the underlying songwriting (composition).
Master Recording Explained
Every song has two copyrights: 1) The Composition (lyrics/melody), owned by songwriters/publishers. 2) The Sound Recording (Master), owned by the artist or record label.
When a record label signs an artist, they typically pay for the recording costs in exchange for ownership of the Masters. This gives the label the right to reproduce, sell, and license that recording.
Why It Matters
Whoever owns the master collects the streaming and sales royalties for the recording side. They also control sync licensing for that recording. The value of owning masters has been highlighted by high-profile cases like Taylor Swift, who re-recorded her albums to create new masters that she owned completely.
Examples
Whitney Houston's "I Will Always Love You." The Master is owned by her label (Arista/Sony). The Composition is owned by Dolly Parton (the songwriter). Dolly earns publishing royalties every time Whitney's version is played, but Sony/Whitney earns the master royalties.
How to Own Your Masters
Stay independent or sign a licensing deal (where you license the master to a label for a set period rather than selling it). If signing a traditional deal, negotiate for a reversion clause where masters return to you after a certain time.
Related Terms
See also: Publishing Rights, Sync Licensing, Mechanical Royalties.
Monitor Your Catalog with Soundcharts
Whether you own your masters or not, you need to know how they are performing. Soundcharts tracks the consumption of your recordings across the entire digital landscape.