[1] The rights to a composition or the "song", which is different from the studio sound recording,[2] are most often administered by the publishing company that represents the writer/producer.
In many cases, producers with tight budgets will elect to use a cover version of a particular song or work with independent artists in order to save money on the master side.
[4] Negotiations for the licensing fee typically address how the work is being used, the length of the segment, the prominence of the cue (whether used as background music, the title track during the credits, or other uses), and the overall popularity and importance of the song or recording.
Another point of negotiation is whether the sync license constitutes a "buyout" (i.e. whether or not the entity that will ultimately broadcast the production will be required to pay "backend" (performance royalty) fees).
In some cases, they may also help to draw new or renewed interest in a song (especially with the current prominence of music streaming services).