Collective enforcement of copyright law is an increasingly important element in copyright-based industries. This article suggests that collective enforcement creates two forces: increased compliance with copyright laws; and a tendency for copyright collecting societies to act as monopolists. The interaction of these forces is discussed and the price and output consequences identified. From this position, using the Australian regulatory experience as a guide, the article highlights a number of regulatory shortcomings and suggests a range of principles upon which to base the regulation of copyright collecting societies.