The simplest distinction often tells us all we need to know.
In the music and film worlds there are artists who own the copyrights to their work and those who do not.
The music industry just honored Paul McGuiness, the long time manager of U2. The Edge and Bono praised him with these words:
"We own our own master tapes, we own our own copyrights…we were designed to survive and we were designed for something much harder: we were designed to survive success. And Paul, it was your design."
When a large record label signs a new artist the label owns the copyrights and the master tapes. Most artists live under this regime throughout their lives.
The movie business uses a similar model. When you make a film for a movie studio or they release the indie movie you have worked so hard to make -- the studio owns the copyright.
Control comes with copyright ownership. Control over everything. If the artist owns the copyrights -- she/he is in control. If the studio or label owns them -- they are in control.
U2 did not own the copyrights to their work when they started as a band. They had to fight for them once they became successful. Success brought them the leverage required to fight and win back control.
U2 believed that control was important for their continued creative and business success.
George Lucas followed a similar path. Fox financed the first "Star Wars" movie and owned the copyright. When it was successful Lucas decided to finance the sequel himself. As a result, he owned the copyright.
When his distribution deal with Fox came up for renewal, Lucas got back the copyright to the first movie. Only then, would he let Fox distribute the Star Wars sequels. He had leverage and used it.
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