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It's why Netflix can't stream some older movies. For instance, Michael Jackson's estate owns some Beatles music and if those songs are played in a movie, the estate gets to demand a separate fee on top of what Netflix pays to the studio. If a rights holder doesn't want a movie containing their song to be licensed for streaming video, they can block it altogether.
Yet another reason why copyright needs to expire within 15 years (or less in the digital era).
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