Royalties for Cover Songs Released for Free

[Musical Gym]

Does anyone know if you record a new version of an old hit and make it available for free, do you need to get permission from the publisher or pay royalties to original composers of the tune?
In the old days, BMI and ASCAP would keep track of airplay of tunes and composers would get royalties for that in addition to track sales.
How does BMI/ASCAP keep track of airplay in the internet world? Or, do they?

[jeffb01]

this may or may not help:

http://www.ehow.com/how_10068045_rights-cover-song.html

[Musical Gym]

this may or may not help:

http://www.ehow.com/how_10068045_rights-cover-song.html

Thanks Jeff!
That seems like too much work. I was thinking of doing an old Elvis tune and turning it into a ballad. I think I'll stick with originals.

[Peter - IK Multimedia]

Last I checked it didn't matter what you charged but if you were going to release a cover via physical media, digital delivery, or streaming you were still responsible for paying the royalties. Take a look through https://www.harryfox.com FAQ and you should find most answers you need. You may also have a shot at getting permission for a reduced royalty rate directly from the publisher (they have to provide it in writing to the Harry Fox Agency IIRC) so you may want to try obtaining that if you have the time and inclination to do so.

[Musical Gym]

Thanks for the info Peter. Please see my amended post above. Too much work for me.