Copyright term, film labeling, and film preservation legislation : hearings before the Subcommittee on Courts and Intellectual Property of the Committee on the Judiciary, House of Representatives, One Hundred Fourth Congress, first session, on H.R. 989, H.R. 1248, and H.R. 1734 ... June 1 and July 13, 1995 (1996)

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630 3 . Works Now Have Greater Value For Longer Periods Modern technologies have increased the value of copyrighted works over longer periods of time. Indeed, early in the discussions of the first Copyright Office report on revision, term extension was advocated because new media made older works more exploitable. Panel Discussion and Comments on the 1961 Report. 86 (1963) . It was repeatedly noted that the value of "serious" works was often not fully recognized until well into the copyright term. Hearings Before Subcomm. 3 of the House of Reps. Comm. on the Judiciary. 89th Cong. , 1st Sess. 82 (1965) (statement of Rex Stout for the Author's League of America) ; 122 Cong. Rec. 3834 (1976) (statement of Sen. Hugh Scott: "[a] short terra is particularly discriminatory against serious works of music, literature, and art, whose value may not be recognized until after many years," referring to works of F. Scott Fitzgerald, Theodore Dreiser and Sinclair Lewis) ; 122 Cong. Rec. 31981 (1976) (statement of Cong. Hutchinson) . Similarly, term extension has a positive effect by guaranteeing a greater return on investment and thus encouraging investment by publishers and others. 113 Cong. Rec. 8501-02 (1967) (statement of Cong. Poff ) ; 122 Cong. Rec. 31981 (1976) (statement of Cong. Hutchinson) . Many -28