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Ars longa, vita brevis: The death of the creator and the impact on exhibitions and auction markets
Economic Research Working Paper No.76
This paper studies the death effect on artists' exhibitions and commercial success in the secondary art market. Based on a random sample of 1'000 popular artists born after the turn of the 20th century, we construct a novel panel data set of their worldwide exhibition history and auction transactions. By applying a regression discontinuity and event study design, we find an overall negative effect of artist death on the number of exhibitions. However, this post mortem effect disappears in longer term. Roughly ten years after death, exhibitions are back to pre-death levels. Arguably, transaction cost and higher auction prices after death also temporarily increase the average cost of exhibiting artworks, e.g. higher market valuation raises (unobserved) insurance cost for exhibitions. Hedonic auction price models confirm this intuition and suggest a significant price premium posthumously. We find substantial heterogeneity in the treatment depending on the age and reputation of the artist at death. Overall findings explain important mechanisms for the post mortem value of artistic work and have important policy implications for the creative sectors and the design of legacy stewardship rules, including a possible justification for rights granted post mortem such as copyright.
Publication year: 2023
Rights, Camera, Action! Intellectual property rights and the filmmaking process
2nd Edition
Rights, Camera, Action! offers professionals in the audiovisual industry guidance on how to use intellectual property protection to generate business opportunities. The reader is taken through the different stages from securing finance to distribution to ensure a successful audiovisual production. With practical advice and enriching case studies from developing countries “Rights, Camera, Action!” will help individual filmmakers and distributors monetize their creative content.
Publication year: 2022
The Global Publishing Industry in 2020
This report provides an overview of the global publishing industry in 2020, covering the trade and educational sectors. It is based on data compiled by the World Intellectual Property Organization (WIPO) in partnership with the Centro Regional para el Fomento del Libro en América Latina y el Caribe (CERLALC), the Federation of European Publishers (FEP), the International Publishers Association (IPA) and the Nielsen Company. The scope of the publishing industry survey is published materials (i.e., books, monographs, and so on) issued with an ISBN, a Digital Object Identifier (DOI) or any other book identifier. This report aims to make publishing industry data available to the user community and highlight the challenges producers of statistics face in reporting consistent and comparable data.
From Paper to Platform: Publishing, Intellectual Property and the Digital Revolution
Supporting the development of a national book and reading culture through local professional writers and publishers requires an understanding of the way this sector of the creative economy works and how it is affected by the digital revolution. This publication is intended to help policymakers, particularly those in countries that are interested in promoting local publishing, to understand the publishing industry better and to understand how copyright and other policies affect the way books are being created, published and consumed.
Publication year: 2021
Collective Management of Text and Image-Based Works
Collective Management of Text and Image-Based Works offers a general description of collective management of copyright in the text and image sector. It provides insight into the legislative framework and national operational systems in different parts of the world.
IP assets and film finance - a primer on standard practices in the U.S.
Economic Research Working Paper No. 74
This research summarizes the basic economics of film finance and standard practices in the U.S. movie industry. It shows how risk and uncertainty around new film finance are managed by the private sector and what market-based solutions have been developed to mitigate risk in the sector. Based on a series of expert interviews and exploratory data analysis, the research presents the most common types of financial deals on the ground and reoccurring funding practices for new film production and distribution in the past twenty years, including a discussion of most recent trends and digital changes in the sector. In particular, the research highlights the prominent role of intellectual property (IP) in financial transactions of the movie industry and it discusses policy options in the U.S. and beyond to better leverage IP assets for financing purposes.
Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, Visually Impaired or Otherwise Print Disabled
The full text of the Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, Visually Impaired, or Otherwise Print Disabled.
Publication year: 2013
International Survey on Private Copying - Law and Practice 2012
This publication describes national systems on compensation for private copying and provides available data on their operation in different countries around the world. The survey offers a global overview of this important element of the copyright infrastructure and is the result of collaboration between WIPO and the Private Copying Collection body in the Netherlands.
WIPO Review of Contractual Considerations in the Audiovisual Sector
This review is a condensed, yet comprehensive, panorama of all the key aspects of performers' contracts in the audiovisual industry and the various ways in which these may serve the interests of both performers and producers.
Copyright and Related Rights Cases in the Field of Music in the Asia-Pacific Region
With the development of digital technology, the laws and legal disputes of copyright and related rights have known a dynamism reflecting this evolution. This publication is an informative collection of legal decisions made by the courts of countries in the Asia and the Pacific region. It provides summaries of a number of salient cases in the field of music, and offers some very interesting insights into the different ways in which copyright and related rights are being handled in various jurisdictions. It aims to be a useful reference for the many professionals who are seeking to navigate the music industry's increasingly complex legal and commercial landscape. This case book was prepared with the assistance of the Funds-in-Trust of the Republic of Korea.
Publication year: 2011