• 1 Introduction2 Digital technology in the music industry2.1 Ownership in the music industry2.2 Different artist types2.3 New intermediaries enter3 Benchmark model: music industry beforethe digital age3.1 Results of the benchmark4 Entry of online platforms4.1 Artist ownership4.2 Label ownership5 Optimal allocation of copyright after entry5.1 Ineffcient ownership structure?6 Discussion7 Extensions7.1 Artists sunk investment7.2 M ownership7.3 Fully complementary investments7.4 Drastic technology change8 ConclusionsA AppendixReferences