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Copyright Protection, Technological Change, and the Quality of New Products: Evidence from Recorded Music since Napster

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  • Joel Waldfogel

Abstract

Recent technological changes may have altered the balance between technology and copyright law for digital products. While file-sharing has reduced revenue, other technological changes have reduced the costs of bringing creative works to market. As a result, we don't know whether the effective copyright protection currently available provides adequate incentives to bring forth a steady stream of valuable new products. This paper assesses the quality of new recorded music since Napster, using three independent approaches. The first is an index of the quantity of high-quality music based on critics' retrospective lists. The second and third approaches rely directly on music sales and airplay data, respectively, using of the idea that if one vintage's music is better than another's, its superior quality should generate higher sales or greater airplay through time, after accounting for depreciation. The three resulting indices of vintage quality for the past half-century are both consistent with each other and with other historical accounts of recorded music quality. There is no evidence of a reduction in the quality of music released since Napster, and the two usage-based indices suggest an increase since 1999. Hence, researchers and policymakers thinking about the strength of copyright protection should supplement their attention to producer surplus with concern for consumer surplus as well.

Suggested Citation

  • Joel Waldfogel, 2011. "Copyright Protection, Technological Change, and the Quality of New Products: Evidence from Recorded Music since Napster," NBER Working Papers 17503, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:17503
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    References listed on IDEAS

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    1. Rob, Rafael & Waldfogel, Joel, 2006. "Piracy on the High C's: Music Downloading, Sales Displacement, and Social Welfare in a Sample of College Students," Journal of Law and Economics, University of Chicago Press, vol. 49(1), pages 29-62, April.
    2. Boldrin,Michele & Levine,David K., 2010. "Against Intellectual Monopoly," Cambridge Books, Cambridge University Press, number 9780521127264, December.
    3. Joel Waldfogel, 2011. "Bye, Bye, Miss American Pie? The Supply of New Recorded Music Since Napster," NBER Working Papers 16882, National Bureau of Economic Research, Inc.
    4. Mortimer, Julie Holland & Nosko, Chris & Sorensen, Alan, 2012. "Supply responses to digital distribution: Recorded music and live performances," Information Economics and Policy, Elsevier, vol. 24(1), pages 3-14.
    5. Felix Oberholzer-Gee & Koleman Strumpf, 2007. "The Effect of File Sharing on Record Sales: An Empirical Analysis," Journal of Political Economy, University of Chicago Press, vol. 115, pages 1-42.
    6. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier.
    7. Tyler Cowen, 2000. "Creative industries: contracts between art and commerce, by Caves, R.E. Cambridge and London: Harvard University Press, 2000, ix + 454 pp., $45.00 (cloth)," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 21(5), pages 208-209.
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    More about this item

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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