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Can I record and play music on my podcast?

I have a podcast on which I intend to play music recorded by local bands. The intent is to direct their music to other musicians and business owners resulting in gigs, musician networking (is that a thing?) and other presently unknown benefits. What do I need to do to comply with lawful regulation and avoid being a copywriting, music pirating blowhard? (I understand that I have used none of the proper lingo. I have the idea and nothing else. So, I've come here)

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