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7 N.Y.U. J.L. & Bus. 731 (2010-2011)
The Taylor Swift Paradox: Superstardom, Excessive Advertising and Blanket Licenses

handle is hein.journals/nyujolbu7 and id is 735 raw text is: THE TAYLOR SWIFT PARADOX: SUPERSTARDOM, EXCESSIVE ADVERTISING AND BLANKET LICENSES IVAN REIDEL* I. INTRODUCTION .................................. 732 II. THE TAYLOR SwiFr PARADOX ................... 737 III. THE PRESENT STATE OF ECONomic ANALYSIs ..... 741 A. The Economics of Two-Sided Media Markets Revisited .............................. 745 B. The Economics of Music Superstars Revisited: Why Artists' Revenues Are Skewed in a Welfare Decreasing Way ............... .......... 759 C. Economic Analysis of Copyright Collectives ...... 765 IV. THE BLANKET LICENSE AS AN UNREASONABLE RESTRAINT OF TRADE ............................ 765 A. Claimed Procompetitive Effects ................ 768 1. Alleged Procompetitive Justification I: The New Product That Radically Lowers Transaction Costs ........................ 770 2. Alleged Procompetitive Justification II: Blanket Licenses Optimally Increase Output (In a Way Which Is Superior to d-la-Carte Pricing) .... ....................... 775 B. Anticompetitive Harms . ................... 796 1. Price ............................... 796 2. Output.................................. 800 3. Quality.................................. 801 4. Further Harms ........................... 802 C. The Need for a Proper Rule of Reason Analysis.. 804 V. PROPOSED MARKET DESIGN: MUSIC LICENSING M ARKETS 3.0 .................................... 805 VI. CONCLUSION ....................................... 808 * S.J.D., Harvard Law School. For helpful comments and support, I am grateful to Einer Elhauge, William Fisher III, Stavros Gadinis, Scott Hemp- hill, Jane Hopwood, Louis Kaplow, Katerina Linos, Mike Meurer, Vlad Perju, Yuval Procaccia, Holger Spamann, Steve Shavell, Elina Treyger and work- shop participants at Harvard Law School, Yale Law School, the University of Michigan School of Law, and Boston University School of Law. I also wish to thank the John M. Olin Center for Law, Economics and Business at Harvard Law School for its generous research support. 731 Imaged with Permission of N.Y.U. Journal of Law & Business

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