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The Three-Legged Stool of Value of Copyrighted Music: Hertzian Radio, SiriusXM, and Spotify (The Working Paper Version – v2)

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  • Marcel Boyer
Abstract
Pricing copyrighted works or assets has always been a difficult task given the information good character of such works. Doing it in the digital era is even more challenging. This paper proposes an approach to infer the competitive market value of copyrights in music from choices made by users namely the operators of Hertzian radio (HR), satellite radio (SiriusXM), and interactive music streaming services (Spotify). The inferred competitive values, which are obtained independently, fall in the same ballpark, although they need not be equal or even close as business models and cost structures differ significantly between those music delivery technologies. Nevertheless the estimated competitive market values of music copyrights clearly indicate that rightsholders are significantly shortchanged and poorly served by the current copyright pricing framework. Appendix A presents the data from which one can infer the value of music in HR. Appendix B presents an overview of the debate before the Copyright Board of Canada following the presentation of the model from which the value of music in HR can be inferred. Read the first version of this publication La tarification des œuvres ou actifs protégées par le droit d'auteur a toujours été une tâche difficile étant donné le caractère ‘biens d’information’ de ces œuvres. Le faire à l'ère du numérique est encore plus difficile. Ce cahier propose d’inférer la valeur de marché à partir du comportement et des choix des utilisateurs, principalement les opérateurs de radio Hertzienne, de radio par satellite (SiriusXM) et de services de musique en ligne (Spotify). Les valeurs ainsi inférées séparément sont de niveaux comparables bien qu’il ne soit pas nécessaire qu’il en soit ainsi étant donné les différences importantes entre leurs modèles d’affaire et leurs structures de coûts. Les valeurs estimées montrent clairement que les ayants-droits sont significativement sous-compensés et donc mal servis par le système actuel de tarification des droits d’auteur. Deux appendices sur les données et le modèle utilisés pour inférer la valeur de la musique dans la radio commerciale au Canada complètent le cahier. Consulter la première version de cette publication

Suggested Citation

  • Marcel Boyer, 2018. "The Three-Legged Stool of Value of Copyrighted Music: Hertzian Radio, SiriusXM, and Spotify (The Working Paper Version – v2)," CIRANO Working Papers 2018s-32, CIRANO.
    • Handle: RePEc:cir:cirwor:2018s-32
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    File URL: https://cirano.qc.ca/files/publications/2018s-32.pdf
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    References listed on IDEAS

    as
    1. Marcel Boyer, 2018. "The Competitive Market Value of Copyright in Music: A Digital Gordian Knot (The Working Paper Version – v2)," CIRANO Working Papers 2018s-30, CIRANO.
    2. Marcel Boyer, 2018. "Competitive Market Value of Copyright in Music: A Digital Gordian Knot," Canadian Public Policy, University of Toronto Press, vol. 44(4), pages 411-422, December.
    3. Marcel Boyer, 2015. "The Value of Copyrights in Recorded Music: Terrestrial Radio and Beyond," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 419, February.
    Full references (including those not matched with items on IDEAS)

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    1. Marcel Boyer, 2018. "The Competitive Market Value of Copyright in Music: A Digital Gordian Knot (The Working Paper Version – v2)," CIRANO Working Papers 2018s-30, CIRANO.

    More about this item

    Keywords

    Copyright; Royalty rates; Hertzian radio; Satellite radio; SiriusXM; Online Music Services; Spotify; Droits d'auteur; Royautés; Radio Hertzienne; SiriusXM; Services de musique en ligne; Spotify;
    All these keywords.

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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