A new type of contractual arrangement in the music industry – the so-called “360-degree” or “equity” deal – allows a firm (e.g., a record label) to manage all of an artist’s activities, such as sales of recorded music, touring, merchandising, etc. Since these contracts internalize...

In this paper we propose a model which shows that the impact of copyright infringement on music artists depends on the type of revenue that they receive (royalties from record companies, profits for self-released artists, revenues from live concerts). We then test the hypotheses derived from the...