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compiling a soundtrack is not considered a creative work in respect of the existing copyrights of the music used. So, like you said, the copyright remains with it's original holders.

However, record labels have a nasty tendency to not pay royalties on music published on mix-discs and other collections, like movie soundtracks. You need to shoot at least three high ranking music executives to force change of that 'tradition'.

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Q: When any song is included in a film's soundtrack then with whom will the copyrights of that song remain?
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