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The Internet at 20: Storytelling Cut in Tiny Pieces, Competition, and Labor Markets Henry H. Perritt, Jr.

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Presentation on theme: "The Internet at 20: Storytelling Cut in Tiny Pieces, Competition, and Labor Markets Henry H. Perritt, Jr."— Presentation transcript:

1 The Internet at 20: Storytelling Cut in Tiny Pieces, Competition, and Labor Markets Henry H. Perritt, Jr.

2 Clips YTAMF movie trailer: YTAMF movie trailer: Giving Ground depositiion clip: Giving Ground depositiion clip:

3 Technology’s impact MusicVideo entertainment Capital costs$250,000  $5,000 or much less $20 million  $50,000 CompetitionHundreds  tens of thousands Dozens  thousands DemandHome and car  everywhere all the time Home and theater  everywhere all the time Crap to jewel ratioHigh  enormous IntermediariesLabels  iTunes, Pandora, and Spotify Studios  YouTube, Hulu, Amazon, Netflix

4 The piracy incentive

5 Music and video entertainment MusicVideo entertainment Capital costsLow and fallingHigh and falling Marginal costsNear zero CompetitionRapidly increasing Importance of copyright ZeroHigher because of substantial fixed costs Need for $ incentives Zero for creators; Significant for intermediaries Must cover much higher costs for creators Need for licensing other copyrighted material LowModerate—”Happy Birthday” for birthday party

6 Elements of capital cost MusicVideo entertainment Physical Mics Computer $800 software Labor Singer Instrument alists Recording engineer Physical Cameras Recording equipment Lights $800 software Labor Actors Cinematographer Sound engineer Editor Location fees Licenses

7 YouTube  good stories

8 Labor markets and the antitrust laws Labor exemption “Competitive entertainment: Implications of the NFL lockout litigation for sports, theatre, and video entertainment”

9 Synergies YTAMF  movie  Airline Miles  Giving Ground  Arian: principles of good stories Music: attentiveness to word choice Being a producer: – business models, – what’s important economically, – talent willing to work for peanuts or for free Being a lawyer, law professor, and writing about this stuff: – contracts; – strategies for TAH; – reservation of IP rights; – exposing nonsense

10 The future Let the Internet be the Internet Subvert the copyright barons Be bold Accept that the law should lag

11 Citations & urls New Business Models for Music, 18 V ILLANOVA S PORTS & E NT. L. J. 63 (2010) Technologies of Storytelling: New Models for Movies, 10 V IRGINIA S PORTS & E NT. L. J. 106 (2010) Cut in Tiny Pieces: Ensuring that Fragmented Ownership Does Not Chill Creativity, 14 V ANDERBILT J. E NT. & T ECH.L.1 (2011) The Internet at 20: Evolution of a Constitution for Cyberspace, ___ William & Mary Bill of Rights J. ___ (2012) (forthcoming). Arian: a novel: Perritt/dp/ /ref=sr_1_1?ie=UTF8&qid= &sr=8-1http://www.amazon.com/Arian-Hank- Perritt/dp/ /ref=sr_1_1?ie=UTF8&qid= &sr=8-1 – Or search for “Hank Perritt” in amazon.com


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