Abstract
In the competitive, increasingly international music business, publishers are developing new ways to increase effectiveness and efficiency of the monetization of the copyrights they own or manage. Driven by various needs, publishers become entrepreneurs in new markets by choosing the path of direct memberships in foreign copyright collecting societies, rather than entrusting sub-publishers or taking the detour through their domestic copyright collecting society. Since with great power comes great responsibility, publishers as entrepreneurs are pursuing various economic opportunities, but at the same time are also facing great challenges. This paper aims at studying the motivation, obstacles and potentials and deriving possible solutions for this step and thus improving the understanding of as well as supporting publishers in this entrepreneurial activity.
Highlights
Stagnation is regression – this applies to companies in the music industry, an environment characterized by strong competition, multiple technological developments and disruptive market players
New market actors and their entrepreneurial activities, and existing companies are subject to continuous development in order not to be made obsolete by economic evolution
What are the new needs and challenges that the players in the industry are confronted with, which make them continuously become entrepreneurs within their industry? The paper at hand aims to answer this question from the perspective of music publishers focusing their interaction with copyright collecting societies (CCS) and sub-publishers in the context of the international exploitation of music copyrights
Summary
Stagnation is regression – this applies to companies in the music industry, an environment characterized by strong competition, multiple technological developments and disruptive market players. New market actors and their entrepreneurial activities, and existing companies are subject to continuous development in order not to be made obsolete by economic evolution. Due to the complexity and volume, the licensing of these rights is not feasible for a single economic entity. This task is solved cooperatively: publishers become members of copyright collecting societies, authorizing them to handle the licensing of various types of copyright use on their behalf. There is growing awareness among music publishers regarding a relevant market change: Legal harmonization and technological developments have facilitated the option of direct memberships of publishers in multiple, international CCS
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