Further reading
If you want to go further and learn more about the business side of a music career, I highly recommend the book How to Make It in the New Music Business: Practical Tips on Building a Loyal Following and Making a Living as a Musician, by Ari Herstand (ISBN-10: 1631491504). This book is hands down the best book I’ve read on the music business. I cannot recommend it enough.
You may be wondering, how exactly do royalties get collected and what share of royalties do you get? On the surface, this sounds like a simple question. It turns out the legal details are really complex. If you want to learn how royalties are collected, read the book All You Need to Know about the Music Business, by Donald Passman (ISBN-10: 1501122185).