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The Music Market in the Age of Download

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  • Iacopo Grassi

    (Università Federico II)

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    Abstract

    Internet, mp3 files, peer-to-peer software and digital technologies for copying have radically modified the music sector. In this paper I present a theoretical model, that investigates the consequences of the appearance of a pirate low quality good (typically a mp3 file) in the music market. In this paper I propose a model of sampling, consider the possibility that the firm modifies its business entering into the low quality segment and investigate the supposed conflict between the recording company, whose profit depends on the CD sold, and the artist, whose profits depend in part on the live performance, the demand of which can increase for the positive externality due to the illegal download of music.

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    File URL: http://www.feem.it/userfiles/attach/Publication/NDL2007/NDL2007-080.pdf
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    Bibliographic Info

    Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2007.80.

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    Date of creation: Jul 2007
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    Handle: RePEc:fem:femwpa:2007.80

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    Related research

    Keywords: File-sharing; Copyright; Sample Effect; Mp3; Concert;

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    1. Besen, Stanley M & Kirby, Sheila Nataraj, 1989. "Private Copying, Appropriability, and Optimal Copying Royalties," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 32(2), pages 255-80, October.
    2. Banerjee, Dyuti S., 2003. "Software piracy: a strategic analysis and policy instruments," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 21(1), pages 97-127, January.
    3. Martin Peitz & Patrick Waelbroeck, 2004. "The Effect of Internet Piracy on CD Sales: Cross-Section Evidence," CESifo Working Paper Series 1122, CESifo Group Munich.
    4. Liebowitz, Stan J, 2006. "File Sharing: Creative Destruction or Just Plain Destruction?," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 49(1), pages 1-28, April.
    5. Stan J. Liebowitz, 2005. "Economists Examine File-Sharing and Music Sales," Industrial Organization, EconWPA 0505001, EconWPA.
    6. Banerjee, Dyuti S., 2006. "Lobbying and commercial software piracy," European Journal of Political Economy, Elsevier, vol. 22(1), pages 139-155, March.
    7. Peitz, Martin & Waelbroeck, Patrick, 2006. "Why the music industry may gain from free downloading -- The role of sampling," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 24(5), pages 907-913, September.
    8. Oz Shy & Jacques-Françlois Thisse, 1999. "A Strategic Approach to Software Protection," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 8(2), pages 163-190, 06.
    9. Takeyama, Lisa N, 1994. "The Welfare Implications of Unauthorized Reproduction of Intellectual Property in the Presence of Demand Network Externalities," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 42(2), pages 155-66, June.
    10. Liebowitz, S J, 1985. "Copying and Indirect Appropriability: Photocopying of Journals," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(5), pages 945-57, October.
    11. Gayer, Amit & Shy, Oz, 2003. "Internet and peer-to-peer distributions in markets for digital products," Economics Letters, Elsevier, Elsevier, vol. 81(2), pages 197-203, November.
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