http://www.google.com/search?hl=en&q=production+music+library+submissions&aq=f&oq=
Here's a place to start. If you can record well, and compile a cd, you can submit to these guys when they ask for subs on their sites. Follow the instructions. Make a record, submit to a dozen places; do it again...hit the same ones, and any others you think look promising...once or twice a year..or whenever you have a new collection. Online subs are becoming popular...others still want a WAV or CD format of files on disc.
If they think they can successfully pitch it for commercials, films, bumpers, elevator music, or recording-artists...if it's good...they will contract some of your work.
The usual decent starting contract is a 50/50 split on licensing fees and air royalties. If their a good, reliable, actually connected and successful publishing house, they'll charge a 25%-ish fee for managing your account and financing the sales staff from the licensing fees they charge the users. The better your work, the more they sell, the greater demand among publishers, the better deal you can cut. But you gotta start. The good contracts are usually reviewable at the anniversary of the signing...if they don't want it...can't move it...they throw it back to you. Or you can take it back for submission to another house that may have better luck with the genre of a particular work or compilation. The exception will be that all contracts signed with purchasers of your music through the publisher will remain in full force and effect until agreed termination date. You should never agree to give up publishing on any of you work, except for specified periods of time.
Just try putting your stuff on a website and trying to sell it yourself...be your own publisher......and then you'll realize, after a while, it takes as much skill selling recorded product as it does recording it. Half of license fee and airplay royalties is more than 100% of nothing.
The publisher's responsible for submitting working titles into your BMI or ASCAP account. A good contract will have you collecting 100% of the composer's share....the publisher collecting 100% of the publisher's share...or, 50/50. That is negotiable as you become more successful.
So record some stuff...and send it out. I got 20+ rejections over two years...until I got 11 titles picked up by a house that specializes in film score. I got notified a few weeks ago that at least two tunes have been picked up for at least two films. I started recording three years ago.
And the great thing about submitting as you learn is that those rejections are proof that you are engaged in a business...and you can write off equipment purchases on your taxes...if you're paying them...on a Profit or Loss on a Business form...for three years ...without making a profit. After that, you need to make some money to qualify...or it becomes a 'hobby'.
Good luck! Start young! You don't need to write hit songs to make money with your little home studio. A buddy of mine pulls in a $6000 check every year because a soccer league in Spain uses one of his tunes for its theme. He has stuff on network TV shows and sports broadcasts...car commercials.....radio bumpers. It's a fantastic way to make a living!!