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They are very interesting. IMHO, it's a nice compromise between making sure the artists are paid for their work, and giving them complete control over their work. Licensing for radio-style play is also compulsory, and terrestrial radio used to not even have to pay the recording artists (I think this changed?), but did have to track and pay to ASCAP.

As a consumer, it would amazing if there were compulsory licenses for film and tv; then we wouldn't have to subscribe to 70 different services to get to the things we want to see. And there would likely be services that spring up to redistribute media where the rightsholders aren't able to or don't care to; it might be pulled from VHS that fans recorded off of TV in the old days, but at least it'd be something.