Chapter 24 Copyright and technological change in music, movies, and books
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Copyright provides monopoly grants for creators, and these rights have traditionally been protected by a combination of law and technology. Recent technological changes associated with digitization have undermined effective copyright protection by facilitating piracy. At the same time, other aspects of digitization have reduced the cost of bringing new products to market. Despite collapsing revenue to some industries, such as recorded music, the number of new creative products – in music, movies, television, and books - has risen sharply. By many measures, the value of the new products to consumers is also high. Despite the understandable concerns of many in these industries, we are currently experiencing a golden age for new

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