eli5: How does the licensing of music work? What are the prices like? Do you pay once for infinite uses?

Question

eli5: How does the licensing of music work? What are the prices like? Do you pay once for infinite uses?

In: 22

Answer 1

How do cover songs work? If a famous artist covers another famous artist song, is it split 50/50? Does the original artist now own the rights to the new version?