I'd rather fight about the details of implementation and bureaucracy than continue to allow content producers to completely block some uses, sue people over others, and charge exorbitant fees to those they don't like.
I'm thinking that with compulsory licensing (as I describe it), new business models would be enabled because they don't have to ask permission. It would just be their responsibility to pay the negotiated fee. (and they don't have to do any negotiation at all since it's set on a large scale -- renegotiated periodically by content owner and distributor stake-holders and not set by fiat by one or the other). There would be no "licensing deals", and e.g. movie studios wouldn't be able to discriminate against iTunes, Netflix, Amazon, or TPB.
Payment would mostly be by the honor system, using copyright registrations to figure out who to pay (imagine every file having a "copyright holder" hash in it somewhere that identifies who to pay). I'm sure content owners would use a trade organization (MPAA) to track down non-payers, but they wouldn't be able to sue for more than e.g. 3*(license fee) so no more grandmas with $100,000 bills for 2 songs, and it only would make sense for them to go after large distributors.
Imagine an app that takes a hash of each media file you have, looks it up in a central copyright database, and tells you how much it would cost to copy it all onto your friend's laptop, and it would all be legal. I don't want *enforced* drm-style payment, just decent and legal accounting...there are always exceptions and I don't want to re-buy all my music when my HDD crashes, nor do I want anyone's software to tell me whether what I'm doing is legal or not.