Why is it important to hold onto your publishing and licensing rights as an artist?
Your music may end up in a Viagra commercial! The King is probably rolling in his grave right now.
I am in Sacramento, California for the http://www.sanfranmusictech.com/ music conference. I am at the hotel watching the Matrix and a commercial comes on for what sounds like a Vegas commercial because of the “Viva Las Vegas” song of the King’s playing in the background. To my surprise and older man and a woman appear on screen and “Viva Viagra” are the new lyrics!!
Paul McCartney really wanted to hold onto the Beatles’s catalog for this reason; to preserve dignity and the image of the band.
Unless you hold the rights to your music, they are open to be licensed without you agreeing or liking the idea. The right holders (most of the time labels) can override your decision if they have control. You may end up on your very own Vigra commercial.