Kill copyright. Curtail patent. Keep trademark.
In the absence of government-enforced monopoly, I think the next-best alternative for creatives would be to cartelize, trading new content for subscription fees covering a range of convenience services related to creative content, such as a recommendations engine, discoverability, favorites library, notifications, artist-specific storefronts, &c.
Pay $10/month or $100/year to the cartel, and from that, the cartel pays its participating artists a guaranteed stipend for living expenses, bonuses for each new work added to the cartel's library, a bonus for each work that meets a positive audience-review threshold, a bonus for each work that meets a positive peer-review threshold, and jackpot awards for works deemed particularly notable by peers and patrons.
The cartel spends heavily on advertising and promotion, to make new art be perceived as worth the cost of patronage, and portray patronage to the cartel as cool and fashionable. Paying patrons would get first shot at premium sales, such as concert tickets in favorable locations, or the opportunity to buy the original artwork or significant artifacts of the creation process.
So you might, through your account with the arts cartel, find a new band whose sound you like, add them to your personal favorites library, be notified that they are playing live near you in October, get pre-sale tickets for the front rows of seats, and order a patron-exclusive band t-shirt to wear when you go. Then you download their newest tracks, and maybe decide they're worth $X to you, so you hit the "tip" button on your app and pay the cartel $Y so that they pay Z% of that directly to the artists. Later, you might get the opportunity to buy the actual hair net that Leadvocal Rockstar wore at the concert in a patron-exclusive auction.
Meanwhile, your uncool non-patron friends are stuck listening to Top-40 format radio stations, because it's the most reliable curated content outside the arts cartel and the soulless corporate culture-for-consumption factories.
Disney has proven that a giant aggregation of art-producers can sustain itself on almost pure self-promotion. Disney is a humongous self-reinforcing advertisement for itself, carrying multiple viable brands, each targeting different audience demographics. Disney could certainly survive loss of copyright protection, but they would definitely make less money without it, and may have trouble adapting to the new cash flows due to sheer hugeness.