Klaus Stratmann Handelsblatt Berlin

The announce-ment by Don-ald Trump represents a serious set-

back for international ef-forts to protect the climate. The climate protection agreement concluded in Par-is in late 2015 is considered a milestone. It aims to ensure that the rise in global warming does not exceed two degrees Celsius, compared to the time before industrialization, which began in the 18th century.

To achieve this goal, each country that signed the agree-ment has pledged to make specifi c commitments to reduce green-house gas emissions. For example, wind turbines and solar power plants could replace coal-fi red pow-er plants, or better thermal insulation could be required for houses that would reduce heating requirements with oil and gas. Germany defi ned how

it intends to fulfi l its commitments with its “Cli-mate Protection Plan 2050”.

Apart from Syria and Nica-ragua, every country in the

world has supported the agreement – including the US. But thi s sum-mer, Trump suddenly d e c l a re d t h at t h e U S would back out. Similar statements have many

worried that the US gov-ernment will drastically

reduce its efforts to stop climate change.

Trump has argued that climate change is an invention.

From his perspective, climate protection eff orts are therefore

unnecessary burdens on the economy. Environmentalists, on

the other hand, say that the with-drawal from the agreement will

not only harm life on earth in gen-eral, but also the US economy. A shift

towards renewable energies would create many new jobs for the country.

The United States is the world’s largest producer of greenhouse gases

after China. The way the Americans behave in terms of energy consump-

tion could therefore be decisive for the success or failure of international

climate protection efforts. Indeed, other countries could follow the US’s

example and back out of the agree-ment. At the G20 summit in Hamburg

at the beginning of July (see right), Turk-ish President Erdogan also expressed critical

views on climate protection. However, he still plans to honour the Paris agreement. Neverthe-

less, many environmentalists are concerned that Trump may fi nd imitators.

US President Donald Trump wants to cancel the Paris climate protection

agreement. Environmentalists are worried about the consequences.

SEPT./OKT. 2017ISSUE 45NEWCOMER

www.handelsblattmachtschule.de/newcomer

The G7 (Group of Seven) or G20 (Group of 20) is the meet-ing of the seven or 20 most important industrialized and emerging countries. The state representatives come togeth-er to find common ground on

political issues – such as climate protection and global trade. The G20 states represent around two-thirds of the world’s population. In July 2017,

the most recent G20 summit took place in Hamburg. The G7 countries are Germany, France, Italy, Japan, Canada, Great Britain and the US.

Climate confl ict

“If you don’t like to read, you haven’t found the right book.”

Joanne K. Rowling, (author of the Harry Potter novels, see also pages 2/3)

Key word: G7 and G20

Bookselling Digitization is changing the book market. Pages 2/3

Football transfersClubs look to acquire new talent in summer – and some are paying huge sums for the world’s best players. Page 5

Is streaming illegal?Watching pirated TV series on the internet can lead to legal trouble. Page 8

econo=me is backLearn what the 2016/17 winners experienced and what’s next. Page 7

Fotos: gettyimages | Chris Ratcliff e; John Phillips, Designed by natalka_dmitrova / Freepik; Icon made by Freepik from www.fl aticon.com

By turning his back on the Paris agreement, Trump is jeopardizing the global population.Tim, Year 9

The student editorial board says:

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45

Catering to bookworms

Catrin Bialek Handelsblatt Düsseldorf

Of all the worlds man has creat-ed, that of books is the most powerful. This sentence is credited to the German poet Heinrich Heine – and it seems

more relevant than ever. Although sales are slowly receding, the German book market is still the second largest in the world. Only the USA’s is bigger. On average, Germans buy 12.2 books per year. Last year, revenue for publish-ers and booksellers amounted to 9.28 billion euros.

But, along with a range of other sectors, digitization is transforming the German book market. Book sales are shifting from the store to the internet. The market share for online book sales is at 18 percent and growing. 24/7 availability and a wide selection of products is attracting an increasing number of cus-tomers. This has a direct effect on traditional bookstores. The number of bookstores in Germany has now fallen to 6,000 and several large bookstore chains have significantly re-duced their retail space.

But traditional bookstores have also found ways to adapt to this changing market. One of the most common and successful is adding an

The invention of the printing press quickly created a need for book-sellers. The profession has existed since the 15th century. Booksellers are primar-ily merchants. They are responsible for the sourc-ing and sale of books and book-related products. They must therefore have a good knack for noticing trends – in terms of products, but also re-garding sales strategies and channels. Specialist expertise is also required, as customers are often looking for advice.Their specific tasks depend on the size of the shop: Generally, a smaller shop requires a more versatile bookseller. They must not only act as a buyer and seller, but also as advertiser, decorator and accountant. In large bookshops, colleagues split these tasks among themselves. Since it is a commercial profession, good grades in maths and economics are helpful. Languages should also be a strong point – after all, the job revolves around books. Entry into the profession can be gained either through vocational train-ing as a bookseller or by studying publishing. Both ways will also prepare you for the changes that digitization is bringing to the industry. Topics such as “e-commerce” or “online product man-agement” are integral parts of the training and course of study.

Wiebke Ammen Institute of Economic Education at Oldenburg

Handelsblatt Focus2

Booksellers

online counterpart to existing in-store sales. More than two-thirds of all bookstores also sell their goods on the internet according to the Börsenverein der Deutschen Buchhan-dels (Association of German Booksellers), which regularly collects sales data on the industry. Thalia, for example, now makes 20 percent of its sales online.

Despite this development, shop sales still play an important role. Nearly half of all book sales are still made in a local bookstore. Ger-mans obviously appreciate personal advice and the possibility to browse.

Though many shops have added online functionality, there is a trend in the other direction as well. According to rumours, the online retailer Amazon wants to open several hundred bookstores. In 2015, the US company opened its first real bookstore in the city of Seattle. On the whole, though, the

Foto: Glen Noble on Unsplash, Icon made by Freepik from www.flaticon.com

A nine-billion- euro market Germans are reliable book buyers. However, the way they purchase and read these books is becoming increasingly diverse thanks to digitization.

The student editorial board says:

Personal advice is especially important when buying books, since samples on the internet often do not tell you enough about a book. Imke, Year 13

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45

company is sticking with its business model: In fact, the reviews from Amazon’s online cus- t o m e r s help determine what is placed on the shelves. And so it comes full circle: The store becomes a physical representation of online customer recommendations.

In addition to the growing online business, the development of the e-book is the second major change that digitization has brought to the book market. However, the idea that

digital books are signifi cantly cheaper than printed products is false. As a rule, the prices for e-books are only a few eu-ros below the hardcover or paperback book price. This is because e-books are also subject to so-called retail price maintenance (see cheat sheet).

At this point, the e-book market in Germany is still in a development phase. Electronic books only account for about 4.6 percent of total book sales so far (see infographic).

Yet another business model is at-tempting to change the book market: fl at rates. Similar to music and movies, users can consume an unlimited num-ber of books on certain platforms. For this they must pay a fixed monthly

amount. There are a few different providers. One i s S ko o b e . T h e c o m -pany was founded in 2010 by the two media companies Georg von Ho l t z b r i n c k , wh i c h owns the Handelsblatt, and Bertelsmann. The platform offers more than 175,000 titles at a subscription price starting at 11.99 euros per month. With its “Kindle Unlimited” service, the online

retailer Amazon off ers 700,000 e-books at a fl at rate of less than ten euros. And the start-up Readfy uses an ad-based model: The app allows bookworms to read more than 70,000 e-books free of charge. Like the music streaming ser-vice Spotify, the app displays advertis-ing banners and videos regularly during reading.

What is the im-pact of the online book market for you as a tradition-al bookseller? It’s hard to say what the market would look like without online book sales. We opened our own online shop fi ve years ago because customers expect it. But it doesn’t really provide a fi -nancial advantage. We don’t lose any money, but it also isn’t providing any profi t. It is merely an additional off er for the customer.

Does digitization aff ect what you off er? We are trying to keep up as much as possible. So, of course, we also off er an e-reader. But overall, e-books in Germany are not particularly rele-vant in terms of sales. For novels, fi ction and youth books, they have a market share of maybe four to fi ve percent. That isn’t much. There are, however, special niches that are more aff ected – for example, the entire lexicon mar-ket. You rarely fi nd a printed lexicon these days.

Do you believe that it’s easier for large bookstore chains to adapt to the impact of digitization than it is for small book-sellers?Yes, I think so – just take online shops for example. Large bookstore chains have their own online shops. We, as a small bookstore, are connected to a system that is operated by the wholesalers where we source our books. We basical-ly use a template that several small-er bookstores use.

Where do you see the book trade in 20 years?I don’t think it will die out. There will always be people who prefer printed books and shop-ping at a store. And there will be more “beau-tiful books”, for example elaborate cookbooks or books with unique designs.

The 30-year-old is an employee at Buch Brader – a small bookstore in Oldenburg.

The interview was conductedby Paula Koch, Herbartgymnasium Olden-burg, Jahrgang 12

Q&A with … Sina Müller

Handelsblatt Focus 3

Foto: Photo by Glen Noble on Unsplash; privat

Sources: International Publishers, Börsenverein, McKinsey, IWF, Destatis, eigene Berechnungen, Statista, Forbes, nobelprize.org

E-book sales Share of e-book users

USA

Great Britain

Germany

4.7 billion €

0.7 billion €

0.4 billion €

36 %

25 %

11 %

Germans are still reluctant when it comes to e-books

-5.6 %9.2 billion €+4.2 %65.7 billion €

Global Germany

Book market salesVolume 2015 and percentage development since 2010

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45

Emmanuel Macron is a shooting star. A few years ago, hardly anyone knew

the man who is now the Presi-dent of France. The former bank-er fi rst entered politics as a con-sultant in 2012. Just two years later, he was named Minister of Economic Aff airs.

About a year ago, he found-ed a political movement: “En Marche!” (English: “Onward!”). It was intended as an alternative to the traditional political parties in France. In May, he won the elec-tion. At only 39 years old, he is the youngest person ever to become the President of France.

France is the largest country in the European Union (EU) in terms of land area and has the second h i g h e s t p o p u l a -tion in the EU be-hind only Germany. Therefore, whatever happens in France automatically has an impact on Europe. T h a t ’s w h y m a n y i n G e r m a ny w e r e relieved that Macron was elected. He is pro-EU. During his five-year term, he wants to work together with the other EU countries to strengthen the internal market.

B u t M a c r o n h a s p u t h i s greatest emphasis on domestic

Simone Malz Institute of Eco-nomic Education at Oldenburg

p o l i t i c s . He wants t o f i g h t mass un-employ-ment in his own

country by chang-ing labour law and simplifying provisions regarding protection aga inst d ismissa l (see cheat sheet). Additionally, companies should be allowed to negotiate

The lords of the ringWiebke Schmitz Institute of Eco nomic Education at Oldenburg

Summer is the season for open air music festivals. From June to September, such festivals take place all over Germany. With 90,000 visitors, one of the most famous open-air concerts is the Rock am Ring (RaR). It was founded by-Marek Lieberberg.

Regarded as the most suc-cessful concert organizer in Europe, the 71-year-old Frankfurt-native has been a fi xture in the music b us i ne ss since the 1970s. He manages RaR t o ge t h e r w i t h

his son André Lieberberg. Marek handles the organization of the festival while his son oversees the programme. He often tries to fi nd newcomers for “the Ring” in addition to well-known groups.

But this is not as easy as it might sound. Not long ago, most bands earned the bulk of their money from the sale of records and CDs. In today’s streaming world, they are far

m o r e dependent on income from live performances. This means that many bands have packed schedules

and their fees have also increased.

This year, however, the rock festival has made headlines not so much for the music, but due to the fear of a possible terror attack. Thankfully, nothing happened, but the threat of terror attacks has made security a higher priority for festival organizers. Marek Lieber-berg and the organizers of other festivals have responded with increased security measures. The organizers of the Hurricane Festival even introduced a new warning siren for emergen-cy situations.

All of this means more effort and more costs for the organizers. This often results in higher ticket prices. Nevertheless, all seem to agree: Music connects people and is a symbol of freedom. True to the RaR motto: “There is one thing nobody can take from us – the pure joy of life.”

Profi le4

with their employees on impor-tant matters like wages or work-ing hours in future. Until now, this role has been reserved for trade unions. They can enforce regulations for whole industries, which al l companie s in the respective industry must then abide by.

Macron’s plans in this area are not particularly popular. But it shows that he is not afraid to take on controversial issues.

Fotos: Reuters | POOL New; Wikimedia Deutschland: https://commons.wikimedia.org/wiki/User:JoeJoeJoe93

France’s new president, Emmanuel Macron, has big plans. His most important project is the restructuring of the French labour market.

A newcomer with great expectations

André und Marek Lieberberg (v.l.n.r.).

French President Emmanuel Macron.

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45 Companies and markets 5

Thomas Müller has achieved everything a footballer can achieve. The 27-year-old has won a World Cup, the Cham-pions League and numerous German championships. But what really distinguishes him at Bayern Munich is that he is a Bavarian native. The star has been wearing the club’s the red jersey for 17 years. Such types are rare in professional football. Many stars regularly switch teams.

Even average Bundesliga play-ers can earn millions. But the athletes should not be blamed for this. They simply go where they get the best deal. It is the same with employees in other industries – only the stakes here are generally higher. But this, too, can be explained. Players who play for fi rst league clubs have proven their abilities against thousands of others.

True, some footballers earn more in one season than most people in a lifetime. But this

is the result of supply and demand. One must also keep in mind that profes-sional athletes are only able

to perform their jobs on the pitch until about the age of 35. In a way, their salaries are also their pensions.

But for some stars, the money and fame seem to go to their head – they think they are above the law. For instance, Lionel Messi of FC Barcelona was recently sentenced to 21 months of imprisonment for tax evasion. Regardless of sal-ary, everyone needs to comply with the law. Footballers should see their huge salaries as an added responsibility. After all, the stars are role models of millions of young players and fans.

Joachim HoferHandelsblatt München

Professionals can earn a lot – and that’s OK

Comment

Summer is a generally quiet time for football leagues, but clubs have still been making headlines. The transfer

market is open and clubs have been making some eye-popping moves. But what may sometimes seem like a wild circus follows economic rules. Every market operates on the principles of supply and demand. The price of a good depends on how desired and how avail-able it is. The scarcer the good, the higher the price – provided there are enough in-terested buyers. Those willing to pay the most get the goods.

There are many football players in the world, but few are truly talented. World-class footballers, those that lead their na-tional teams and whose jerseys are worn by millions of fans, are as rare as diamonds. As a result, their transfer fees and salaries are so high that only a few clubs have the resources to pay for their services.

Paris Saint-Germain only managed to pay the record 222-million-euro transfer fee for the Brazilian superstar Ney-mar because the club belongs to some very rich sheikhs from Qatar. In Germany, no club except Bayern Munich would be able to spend more than 40 million euros for an aspiring young player like Corentin Tolisso.

There are different reasons behind the ever-rising transfer fees. First, there are the player advisors who take a share of every transfer and are therefore constantly looking for the most profi table deals. A second reason is provided by the English Premier League clubs, which have huge sums available due to a massive TV contract. Finally, Chinese clubs are becoming increasingly active on the transfer

market. They want to generate interest in their football league and attract top footballers to the Far East with outrageous salaries. The Argentinian striker Carlos Tévez, for example, is rumoured to earn over 100,000 euros per day at Shang-hai Shenhua!

How can smaller clubs compete? They must invest in youth work, try and fi nd talents in smaller leagues and look to sell successful players for a hefty transfer fee.

Michael Koch Institute of Eco nomic Education at Oldenburg

The transfer market for professional football stars is always an entertaining off -season diversion for fans. With rich team owners and competition from Chinese clubs, the fees for top players are skyrocketing.

Illustration: Freepik | Designed by Kjpargeter; Designed by Freepik, Karikatur: Tomma Otzen

That’s the students’ view

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45Handelsblatt explained6

The top three apprenticeships show that many men are in-terested in technology and me-chanics while women tend to be more attracted to business or social occupations.

Women often earn less later Due to the current development in the workplace – keyword digitization – technical special-ists are particularly in demand. Professions such as industrial mechanic or electronics tech-nician, which mainly men enter, are accordingly well paid. The salary for such jobs is nearly double that of a medical assis-tant – a profession that many women pursue. Other social professions that are popular among women, such as nurse or preschool teacher, also come with lower salaries. These occupations do not appear on the right in the graphic because they are not off ered as dual education apprenticeships, but require a school education. Here, trainees learn at a vocational school and regularly take on internships. Since the trainees are not em-ployed by a company, they are not always given a training sala-ry – in contrast to dual educa-tion apprentices. In some cases, these schools may require a fee, so the trainees pay for their own training.

Done with school – now what?For many school leavers, the choice is clear: They want to study at a university. Neverthe-less, the proportion of school leavers who prefer vocational training is gradually increas-ing. In 2009, the fi gure was 20 percent – in 2015, it was 28 percent. After all, vocational training also off ers many opportuni-ties for a good career. Upon completing their training, ap-prentices can become masters in their trade, start their own business or acquire addition-al qualifi cations for certain professions or (management) positions within a company. It is also often possible to study later, if one wants to.

Rebecca LembkeInstitute of Economic Education at Oldenburg

What does that mean?

A Handelsblatt articleexplained

This time on the topic ofDual education

So many choicesMore than 300 apprenticeship occupations off ered in Germany. But most school leavers see only a few of them as ideal options.

Stefani Hergert, Juraj Rosenberger, Excerpt from a Handelsblatt article from 12 May 2017

Sources: BIBB, Entgeltatlas/Bundesagentur für Arbeit, Berufsbildungsbericht, Destatis

Women often choose professionsthat offer lower wages The most popular apprenticeship occupations for women and men in 2016

Management assistant in office management

12 798 €

73 %Women

21 015

Medicalassistant 2

108

2 093 €

98 %Women

15 465

Saleswoman 37

2 231 €

55 %Women

13 173

Earnings in the profession*

Completed training contracts

Proportion of traineesRank among

men

Rank amongwomen

Electronics technician 2

75

3 815 €**

98 %Men

12 981

Automotive mechatronicstechnician

12 768 €

96 %Men

20 553

Retail managementassistant

34

2 231 €

48 %Men

12 084

**Trade*Median of the gross monthly salary of all full-time employees regardless of sex

43

10

www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45 Student Journalists 7

“Saving takes work – but it pays off ”

Foto: Uta Wagner für Handelsblatt, Monitor von samsung.de

After hearing about the econo=me competition from our Politics te acher Michael E ber t , we

quickly formed a nine-member group in our class. We were determined to make a good submission. Taking on the question “Why save?” interested us very much, since the question also plays an important role in our everyday life. For instance, nearly all of us had recently received large amounts of money as a gift for our confi rmation.

We quickly agreed that we should characterize different types of “savers” in a short fi lm1. We wanted to point out important factors for making sound in-vestments.

First, we regularly met outside of class to exchange ideas and write the script. After several meetings, we were ready to start fi lming. Overall, we had nine days of filming. Subsequently, a few group members spent some long nights editing the film to a length of ten minutes. We

fi nished just before the deadline. Despite some disagreements and

crises, we were also a little sad when the project was over. It was therefore espe-cially satisfying to take fi rst place.

Why save? Pupils from Lower Saxony made a fi lm tackling this question and took fi rst place in the secondary level I category of the nationwide competition econo=me.

Malin Hensel, Jakob Orth (Jahrgang 10), Wilhelm-Raabe-Schule, Lüneburg

The pupil competition for economic and fi nancial a� airs econo=me is now entering the next round. Groups of pupils from year 7 and up can partici-pate until 28 February 2018. This time, the theme is: a cash-less society. Prizes worth more than € 50,000 are up for grabs. More information available at: econo-me.de

All the winners from the econo=me competition 2016/17.

What exactly is Sparship? Jana Derr: Our basic idea was to help private house-holds cope with the zero-interest rate policy and associ-ated issues related to savings. So, we decided to build a website where you can get information about money, the ECB and the low in-terest rates as well as about alternative options for invest-ments and savings. Our goal was also to create a kind of “savings com-munity”. There are already similar community models on the internet, such as dating agencies. Our name was inspired by one of them.

How has your view on the zero-inter-est policy changed over the course of the project?Joshua Renner: We found that everyone, including all of us in our small village, is aff ected by the zero-interest rate policy. What previously seemed like something only for bankers

and economists suddenly become much more person-al. And the more we dealt with the subject, the more clearly we could see the options for responding.

What are the chal-lenges for private households? Elena Kordmann: For many house-holds, the problem starts with a lack of knowledge. After that, it is a matter of taking action. Convenience and unawareness are two major reasons why many savers simply leave their money in a savings account – where it likely is losing value. With our project, we wanted to take a step towards the people and provide them with some basic information. We believe that re-search and self-initi-ative are important keys to success for private households in this area.

The complete inter-view can be read at: handelsblatt-machtschule.de/nc-downloads

“Savings in an era of zero interest - challenges for private households” was the topic assigned to secondary level II pupils. Some pupils from the Martin-Schleyer-Gymnasium in Lauda-Königshofen (year 12) took fi rst place with their website Sparship1.

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www.handelsblattmachtschule.de/newcomer

September/October 2017, ISSUE 45

Icon & Illustration: Designed by Freepik

ImpressumHerausgeber: Dieter Fockenbrock (V. i. S. d. P.) (Handelsblatt) und Hans Kaminski (Institut für Öko-nomische Bildung IÖB, Uni Oldenburg)

Konzept: Katrin Eggert, Dieter Fockenbrock, Hans Kaminski, Michael Koch

Redaktion: Melanie Rübartsch

Artdirector: Regina Baierl

Objektleitung: Verena von Hugo

Koordination: Rebecca Lembke, Melanie Rübartsch

Layout und Fotos: Sandra Janzsó, Corinna Thiel

Englische Übersetzung: John Dalbey für PONS GmbH

Verlag: Handelsblatt GmbH

Geschäftsführung: Gabor Steingart (Vorsitzender), Frank Dopheide, Ingo Rieper, Gerrit SchumannKasernenstr. 67, 40213 Düsseldorf, Tel.: +49 (0) 211-887-0

Druck: kuncke druck GmbH, Kornkamp 24, 22926 Ahrensburg

Mitarbeiter dieser Ausgabe: Jana Derr, Malin Hensel, Paula Koch, Elena Kordmann, Jakob Orth, Joshua Renner, Lehrer und Schüler der Helene-Lange-Schule Oldenburg (Ortrud Reuter-Kaminski, Hanne Hägele, Emma Jensen, Marie Lügger, Tomma Lina Otzen, Freia Rose-Borsum, Kaja Schönborn, Julia Schulte, Hanna Sczesny, Lilly Sophie Sellere, Imke Thomssen, Tim Levi Schönberger, Terje Frisse, Ole Schiller)

Fragen und Feedback: hb.schule@vhb.de Handelsblatt Newcomer erscheint alle zwei Monate.

Schüler und Lehrer können eine englische Übersetzung des Handelsblatt Newcomers auf unserer Internetseite kostenlos als PDF herunterladen. Mehr Infos unter: handelsblattmachtschule.de/newcomer

Handelsblatt Newcomer auf Englisch

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Lehrkräfte können den Handelsblatt Newcomer für ihre Schüler kostenlos bestellen:handelsblattmachtschule.de/newcomer

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Was ihr dafür tun müsst: 1. Like unsere Facebook Fanpage2. Like den Post zum Gewinnspiel

Unter allen Teilnehmern verlosen wir1 x Xbox One X2 x Hoverboards3 x Eventim Gutscheine

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OrangebyHandelsblatt

Is it true that …*

… streaming TV series and movies is illegal?

* Vorschläge für Stimmt-es-dass-Fragen könnt ihr uns gerne schicken an: hb.schule@vhb.de

Watching your favourite TV series for free on the internet sounds tempting. But streaming can be a criminal off ense.

We all know the feeling: An episode ends with a cliff hanger and you can’t wait until the next episode

is available to watch. Or how time seems to stand still as you wait for a new fi lm with your favourite ac-tor to make its way to German cin-emas. Some have a solution for such feelings: Streaming platforms on the internet off er many series and fi lms in their original version, long before they can be seen on German TV or in local cinemas.

And unlike Netflix, Amazon Prime or a visit to the cinema, viewers do not have to pay to watch. But this is no reason to cheer. These platforms are illegal. The oper-ators violate the rights of those who produce series and fi lms. The content is simply stolen.

Until recently, people using such plat-forms had nothing to worry about. Since they weren’t providing the fi les themselves

or sending them to other people, they couldn’t be charged with any crime. But this May, the European Court of Justice ruled that

even those watching movies or TV series via an illegal stream are liable for copyright infringement and could be subject to fi nes.

Illegal streaming in any form harms the producers of the con-tent. After all, they make their money in part by selling the rights to these fi lms and series and use this money to pay for the actors, props, makeup artists and all the others involved in the produc-tion. The money is also used to produce the sequel or the next

season. In the end, the wait is worth it.

Johannes StegerHandelsblatt Düsseldorf

VOKABELThe next

HNewcomer

will be published inNovember.

It will cover numerous

topics, includingcartels.