She’s owning it. Yes. Kate Bush owns the entire recording copyright to Running Up That Hill, as well as the Hounds Of Love album, and the rest of her biggest hits. Those hits are distributed by Warner Music Group. But they are owned by Kate Bush. They’re not even credited as being licensed to anyone.
An educated guess: Kate Bush will be making the majority – possibly even as much as 80%-plus, if she’s on a basic distribution deal – of the recorded music royalties generated by her masters right now. Last week, Running Up That Hill did 57 million chart-eligible global streams on Spotify alone. That would, at rough industry estimates, translate to over $200,000 in recorded music royalties from one platform, on one format (streaming), in one week.