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The Economic Effects of Digitization on the Administration of Musical Copyrights

Digitization has had a profound effect on the management of musical copyrights in terms of data requirements and has vastly increased the volume of transactions: both impacts have raised net costs of administration to collecting societies. This paper explores these points using information provided by PRS for Music, the UK’s collecting society managing musical rights and considers them in the wider context of moves on the political front to increase competition in rights management as well as to promote multi-territorial licensing within the EU. An important question for economists is whether the natural monopoly argument for single national collective rights management using blanket licensing still holds up with digitization of music and management of musical rights. This paper suggests that collaborative concentration may be preferable to competition.