It would have a huge impact on distribution channels. Before patents, inventions were kept secret to ensure the inventor's profits. Before copyrights, authors would make the bulk of their money from speaking, reading, directing stage versions and teaching, composers from concerts. That places comparatively less value on the finished product and more on face-to-face services associated with it. Books would likely still abound, but music and film would be radically different without the upfront investment available to make a big production. You could not have anything like a studio, though you might have cinema chains making movies for their sole use.