These exist. Here in Germany, the major (actually, only) rights-management agency is the GEMA, which is wholly controlled by "the artists".
It's a nightmare, though. It is ruled by the bureaucrats running it, in conjunction with the artists that actually profit from it, i. e. old people with a large back catalogue. It's constantly fighting with the businesses using music, i. e. youtube still blocks 90% of videos with music because they haven't agreed on prices. Clubs might have to close because they've tripled prices recently. Small bands sometimes sign up, only to find out they actually have to pay to play their own songs, and through the magic of the most convoluted payout formula ever, might not actually get as much back as they pay in. Even if they get something out of it, it may take 18 months.
It's a nightmare, though. It is ruled by the bureaucrats running it, in conjunction with the artists that actually profit from it, i. e. old people with a large back catalogue. It's constantly fighting with the businesses using music, i. e. youtube still blocks 90% of videos with music because they haven't agreed on prices. Clubs might have to close because they've tripled prices recently. Small bands sometimes sign up, only to find out they actually have to pay to play their own songs, and through the magic of the most convoluted payout formula ever, might not actually get as much back as they pay in. Even if they get something out of it, it may take 18 months.