I'm not going to correct all the replies to this post, I'm just going to suggest that you should read TFA. This is about the songwriter's cut, and if you didn't write the song you performed, this changes nothing about the 0% of the songwriting royalties to which you were entitled.

Is that really true? That seems pretty insane.

This carried over from radio. It was decided that recording artists benefited sufficiently from the publicity of being played on the radio leading to record purchases and concert ticket sales. Song writers managed to get a compulsory royalty instead. Their compensation is written in law, they can not negotiate for more, but at least they get paid.

I thought royalties were split between writer, composer and performer. This leads to the saying, “change a word, get a third” for performers who try to get co-writing credits on the songs originally written by others.

Incorrect, as far as streaming royalties go. Performers get 5-6x what songwriters are paid.