Although I'm not the OP, let me comment on these auction models: From an economic point of view, they suffer under high transaction costs.
Transaction costs include legal stuff, distribution, and advertising. The later is probably the largest block. There's only a very small minority who likes to engage in the creation of works. The majority just wants to be entertained. For this, they need signals of quality, and the perceivable amount of advertising is such a signal.
Transaction costs include legal stuff, distribution, and advertising. The later is probably the largest block. There's only a very small minority who likes to engage in the creation of works. The majority just wants to be entertained. For this, they need signals of quality, and the perceivable amount of advertising is such a signal.