forgetting the disagreement I have with this in general, let's approach the subject from a different standpoint.
why would I want to give my copyright to a publisher? (even if it meant a recording contract)
do all of the big songwriters do this? so basically a songwriter who is "signed" doesn't ever retain his/her copyright simply because the publisher "needs" the copyright in order to promote the song?
what does that mean for current songwriters? take this scenerio as an example:
I want to record a cover of "Old Time Rock n Roll" and put it on my CD with other original songs. I have to obtain a mechanical license from some representative of Bob Seger (usually HFA) and pay them for the right to record and distribute the song based on the length of the song and the number of copies I'm making for distribution.
But...wait! if the publishing companies are the only ones who own the copyrights then I'm not really paying Bob Seger's rep for the use of his song. I'm actually paying his publishing company because technically ol' Bob doesn't own the copyright!
I don't understand this philosophy. I wait to be enlightened.