Any weakening of the copyright system could reduce the incentive for investment in arts and literature, the Copyright Licensing Agency (CLA) has warned.
A report, conducted for the CLA by PwC, into the economic impact of copyright in the UK has shown that £4.3bn is estimated to have been invested in new content in the UK in 2007. Of this, £850m was invested in literature and £720m was invested in artistic works.
The report showed that the current copyright system underpins substantial economic growth and innovation across the UK economy and that income received from copyright licensing plays a significant role in incentivising investment in the development of new creative content.
It also found that around 770,000 original content creators in the UK would be affected by any changes, including authors, artists, and software developers.
Source: Information World Review