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1、1The U.S.Music Industries:Jobs&Benefits The 2024 ReportROBERT STONER|Managing DirectorJSSICA DUTRA|DirectorSECRETARIAT|Washington,D.C.PREPARED FOR Recording Industry Association of America(RIAA)THE U.S.MUSIC INDUSTRIES:JOBS&BENEFITSTHE 2024 REPORT2The U.S.Music Industries:Jobs&Benefits The 2024 Repo

2、rtThe U.S Music Industries Jobs&Benefits:The 2024 Report is the third iteration prepared for the Recording Industry Association of America(RIAA)since 2018 Citation format:The U.S.Music Industries Jobs and Benefits:The 2024 Report,by Robert Stoner and Jssica Dutra of Secretariat,prepared for the Reco

3、rding Industry Association of America(RIAA),October 2024,available at .2024 SecretariatAll rights reserved.Material in this report is protected by copyright.It may,however,be reproduced for non-commercial purposes or quoted with appropriate attribution to Robert Stoner and Jssica Dutra of Secretaria

4、t,and the Recording Industry Association of America.3The U.S.Music Industries:Jobs&Benefits The 2024 ReportABOUT THE AUTHORSRobert Stoner is a Managing Director,Secretariat,135 Main Street,Suite 1850,San Francisco,San Francisco,CA 94105,www.secretariat-.He received a Ph.D.in economics from the Unive

5、rsity of California,Berkeley,specializing in industrial organization.Dr.Stoner has written widely regarding intellectual property issues,including the importance of intellectual property in a standard setting context and methodologies for computing royalty rates and damages for patent-protected tech

6、nologies.He has also written about potential reforms in the U.S.patent system.He has particular expertise in matters at the intersection of antitrust and intellectual property,given his previous position as an economist and manager at the Federal Trade Commission.Jssica Dutra is a Director,Secretari

7、at,2121 K Street NW,Suite 1100,Washington,DC 20037,www.secretariat-.She received a Ph.D.in economics from the University of Kansas,specializing in industrial organization and antitrust.She has experience estimating regional economic impact of local businesses and for a wide range of industries,inclu

8、ding the U.S.copyright industries,music,publishing,and pharmaceuticals.Dr.Dutra specializes in the application of economic principles and state of the art quantitative methods in the context of litigation and damage calculation.She has published papers,taught classes,and delivered presentations on c

9、ompetition and intellectual property matters.AUTHORS ACKNOWLEDGEMENTSIn this report,Emily Buell,performed much of the computer programming required to complete this study.We are also grateful for the guidance and support provided by the Recording Industry Association of America(RIAA).We would also l

10、ike to thank Joshua P.Friedlander for his insights and much appreciated suggestions.4The U.S.Music Industries:Jobs&Benefits The 2024 Report5The U.S.Music Industries:Jobs&Benefits The 2024 ReportCONTENTSExecutive Summary.6Introduction.81.The United States in the Global Music Arena.92.Determining Econ

11、omic Impact in the Music Industry.112.1.The North American Industry Classification System(“NAICS”).112.2.Identifying the Music Industry.122.3.A Model for the Economy.133.Music Industry Metrics by Group.143.1.Receipts.143.2.Earnings.153.3.Employment.163.4.Value Added.193.5.Establishments.194.U.S.All-

12、Industry Tables.205.Growth in Music Industry Metrics,Projected 2021.216.State by State Values.237.Music Industry in the Digital Economy.278.Conclusions.29Appendix I.30Appendix II.336The U.S.Music Industries:Jobs&Benefits The 2024 ReportI.EXECUTIVE SUMMARYMusic plays an outsized role in American cult

13、ure.It is unique among art forms in being so widely enjoyed and shared,creating connections between people across geography and even time.Its a meaningful part of our everyday lives,and something we turn to in both times of joy and sorrow.As important as these cultural touchstones are,music plays an

14、other role in the lives and livelihoods of so many.According to IFPI,the global trade body for recorded music,the United States has the largest music economy in the world,and accounts for more than a third of the worlds recorded music revenues.1 This report explores musics role in the economy,includ

15、ing jobs and businesses like music publishing,streaming music services,musical instrument manufacturing,musicians,music teachers,agents,concert promoters,and many others.The findings of this report show that music had a significant,broad,and growing impact on the U.S.economy.In 2020,the music indust

16、ry added$212 billion in value to U.S.GDP,an 18%increase in music industry value added from 2017.Across a wide array of occupations,the music industry directly or indirectly supports more than 2.5 million American jobs,an increase of more than 350,000 jobs from 2017.The number of music industry busin

17、esses and establishments from brick-and-mortar shops,to digital platforms,and everything in between grew to 252,085 over 25,000 more than 2017.While music connects us nationally and even internationally,so much of what matters to individuals is far more local.This report also looks at state by state

18、 contributions to better understand the importance of music in local economies.The biggest state contributors California,1 IFPI Global Music Report,2024,page 112.20172020MUSIC INDUSTRY VALUE TO THE U.S.ECONOMY50100150200250$179B$212BTHE MUSIC INDUSTRY SUPPORTS MORE THAN1 THE U.S.HAS MORE THANWORLDS

19、RECORDED MUSIC REVENUES 32.5MAMERICAN JOBS7The U.S.Music Industries:Jobs&Benefits The 2024 ReportNew York,Florida,Tennessee,Texas,and Pennsylvania are noted alongside data for all 50 states and the District of Columbia.For example,in California,music contributed more than$51 billion,or 1.5%of the st

20、ates total GDP.And in Tennessee,music contributed an even higher 1.7%of state GDP.This update follows“The U.S.Music Industries:Jobs and Benefits”from April 2018 and December 2020 by the same name.It builds on and refines the work of those previous reports while maintaining a fundamentally similar co

21、re methodology.This study was conducted using Census Bureau,Bureau of Economic Analysis,and private-sector datasets covering hundreds of industries employing a macroeconomic analysis to determine musics direct economic and employment impacts and then a downstream RIMS II multiplier model to capture

22、the full value generated by the American music industry.Of course,there are limitations on any study of this kind due to the data constraints of working from national-level,aggregated datasets.Further,the rapid pace of change experienced in the music sector introduces additional uncertainty as natio

23、nal data collection and classification systems work to catch up with the industrys evolution.We have vetted the data and made necessary estimates to ensure the report reflects the full contributions of all participants within the music ecosystem to the greatest extent possible.It is important to not

24、e that this report includes data covering periods both before and after the onset of the COVID-19 pandemic in March of 2020.Although now several years out we have better understanding of pandemic effects,it is still difficult to fully understand or measure the myriad of impacts it had on the economy

25、 broadly and the music industry specifically.For example,weve already seen the live music industry virtually shut down in 2020 but more recently return to pre-pandemic levels.We have done our best to work with the data available and note areas where we think the pandemic has impacted our analysis.In

26、 the previous iteration of this report,we wrote that we hoped the data would provide“a necessary benchmark that will be vital to understanding the economic and human consequences of the COVID-19 period for the music sector and the people who depend on it.”This report is another steppingstone followi

27、ng on that insight.Our hope is that it continues to provide consistent,useful,transparent,and interesting look at such a vital part of our culture and economy.AND IN TENNESSEE,MUSIC CONTRIBUTEDIN CALIFORNIA,MUSIC CONTRIBUTED MORE THANOF TOTAL GDP1.5%of the states total GDP.1.7%OF TOTAL GDP8The U.S.M

28、usic Industries:Jobs&Benefits The 2024 ReportINTRODUCTIONAs set forth in this report,in 2017(the base year we first considered)the U.S.music industries earned more than$118 billion in receipts from consumers and service providers.In the same year,employee earnings supported by the music industries(i

29、.e.,what we call the“final demand”value,which includes ripple effects into the greater economy)reached$93 billion while value added supported by the industry exceeded$179 billion.By 2020,these figures had increased meaningfully.Music industries receipts reached$141 billion in 2020 while employee ear

30、nings supported by the industry surpassed$109 billion.The value added supported by the music industry to the U.S.economy was over$211 billion.In the three-year period from 2017 2020,the U.S.music industry grew its final contribution to GDP,again accounting for ripple effects,from$179 billion to over

31、$211 billion,an increase of 18%(5.7%annually).Moreover,as shown in the latter section of this report where we project values for 2021,most of these metrics continued their growth(albeit at a lower rate due to impact of the pandemic)and benefitting music producers and consumers.Employment supported b

32、y the U.S.music industries also increased substantially during the period 2017 2020.In those years,total employment supported by the music industry rose from 2,165,543 employees in 2017 to 2,539,280 employees in 2020.2 The average growth rate achieved by final demand employment within that period ex

33、ceeded 17%.Although not an economic impact indicator per se,we also provide an estimate of music industry establishments in the U.S.,showing the brick-and-mortar footprint of 225,131 in 2017 to 252,085 in 2020,and average annual growth rate of 3.8%.The values in this report reflect the authors view

34、of the U.S.music industries as comprising a broad collection of input and output providers of music.Crucially,the analysis attempts to capture the total contributions made by a wide range of music industries in the U.S.,including their benefit in supporting wider economic activity in other sectors t

35、hrough ripple effects.2 A main source for the employment and economy environment dynamic estimates of this report is the U.S.Census Bureau County Business Patterns(“CBP”),which includes the number of establishments as well as employment during the week of March 12.Total employment supported by the m

36、usic industry rose to2,539,280 employees in 2020TO THE U.S.ECONOMY$211B+THE VALUE ADDED SUPPORTED BY THE MUSIC INDUSTRY WASEMPLOYEES IN 20202,539,280TOTAL EMPLOYMENT SUPPORTED BY THE MUSIC INDUSTRY ROSE TO9The U.S.Music Industries:Jobs&Benefits The 2024 ReportI.THE UNITED STATES IN THE GLOBAL MUSIC

37、ARENAThe International Federation of the Phonographic Industry(“IFPI”),representing the recording industry worldwide,is a non-profit members international organization registered in Switzerland.As part of its mission,IFPI develops statistics that illuminate trends in music revenues by country and by

38、 format.Their Global Music Report 2022 provides a good example of the data compilations that are developed and published by the IFPI.According to the IFPI,the U.S.ranks first in the following music industry categories:global market music revenue,performance rights,synchronization,streaming,and other

39、 digital(including downloads)revenue.In terms of the physical music media category,the U.S.ranks second.The IFPI reports direct music revenue in the U.S.by category and by year.The figures are reproduced here in Figure 1.0.,which shows U.S.trends in music revenues differing dramatically across music

40、 industry with an intertemporal change in consumption patterns between formats.For example,direct digital revenue increased from$4.27 billion in 2017 to$7.86 billion in 2021,while physical revenue initially decreased from$860 million in 2017 to$700 million in 2019,and then went back up to$1.01 billi

41、on in 2021,primarily because of the resurgence of vinyl.33 See,for example,RIAA,“Year-End 2022 RIAA Revenue Statistics,”available at ;Kaitlyn Radde“Vinyl records outsell CDs for the first time since 1987,”NPR,March 10 2023;Ginger Adams Otis“Vinyl Records Outsell CDs for the First Time Since 1987,”Th

42、e Wall Street Journal,March 9 2023.FIGURE 1.0:U.S.RECORDED MUSIC REVENUE,2017-2021($BILLIONS,WHOLESALE)$5.78B$6.66B$7.46B$8.02B$9.83B20172018201920202021PhysicalDigitalPerformance RightsSynchronization RevenuesSource:IFPI14.2%Average Annual Growth22.6%Growth10The U.S.Music Industries:Jobs&Benefits T

43、he 2024 ReportWithin the digital music sub-category,the divergence of trends by medium has been,if anything,more dramatic.As shown in Figure 1.1,download revenues declined over the period 2017 2021 to less than half while streaming revenues of recorded music more than doubled in the same interval.FI

44、GURE 1.1:U.S.DIGITAL RECORDED MUSIC REVENUE,2017-2021 ($BILLIONS,WHOLESALE)Figures 1.0 and 1.1 serve to illustrate the critical changes experienced by the U.S.music industry in the early 21st century.In latter sections of this report,efforts will be made to describe how these changes potentially mak

45、e the music industry an important contributor to the digital economy,and to also point out how the extent of this contribution might be underestimated under the current definition of digital economy,such as failing to include music recording despite it being a very digitally intensive activity.The I

46、FPIs Global Music Report presents a conservative assessment of the music industry today,excluding music receipts earned indirectly through suppliers and vendor which we attempt to capture in this report.Moreover,the analyses in the IFPI study focus on a much narrower definition of music industry fir

47、ms and activities as compared to the industry definition assumed in the present report.The complete series of music industries assumed in this analysis are described subsequently in this report.20172018201920202021DownloadsStreamingOther$4.27B$4.94B$5.84B$6.38B$7.86BSource:IFPI11The U.S.Music Indust

48、ries:Jobs&Benefits The 2024 ReportII.DETERMINING ECONOMIC IMPACT IN THE MUSIC INDUSTRY2.1|THE NORTH AMERICAN INDUSTRY CLASSIFICATION SYSTEM(“NAICS”)In this study we give continuity to the methodology developed in the previous ones,in which industry-specific data for music are generally identified on

49、 the basis of classifications developed in the North American Industry Classification System(“NAICS”).An industrial classification system such as NAICS“facilitates the collection,tabulation,presentation,and analysis of data relating to establishments and ensures that data about the U.S.economy publi

50、shed by U.S.statistical agencies are uniform and comparable.NAICS ensures that such data are uniform and comparable among Canada,Mexico,and the United States.”4 In particular,the data classifications and industry framework developed in NAICS have been widely implemented by U.S.statistical agencies i

51、ncluding the Census Bureau and the Bureau of Economic Analysis(“BEA”).The NAICS provides a production-oriented framework that groups establishments into industries according to similarity in the processes used to produce goods and services.When an industry is defined on a production-orientated conce

52、pt,“producing units within the industrys boundaries share a basic production process;they use closely similar technology.”5NAICS uses a six-digit coding system“to identify particular industries and their placement in the hierarchical structure of the classification system.”6“The first two digits of

53、the code designate the sector,the third designates the subsector,the fourth designates the industry group,the fifth designates the NAICS industry and the sixth designates the national industry.7 A zero as the sixth digit generally indicates that the NAICS industry and the U.S.industry are the same.T

54、he NAICS is also reviewed consistently by OMB to guarantee that the classifications best reflect the industries and dynamics they are trying to portray:“the dynamic nature of world economies continues to affect classification systems.The creators of NAICS agreed that the classification system should

55、 be reviewed every five years,and revised as appropriate to reflect the changing economies.”8 NAICS Codes are updated every five years across North America,including the U.S.,Canada,and Mexico,to reflect changes and innovations in the regional economy.This report used the 2017 NAICS codes but future

56、 reports will utilize the most recent classifications published for 2022.4 Executive Office of the President Office of Management and Budget,North American Industry Classification System,United States,2017,page 77.5 Executive Office of the President Office of Management and Budget,North American Ind

57、ustry Classification System,United States,2017,pages 15-16.6 Executive Office of the President Office of Management and Budget,North American Industry Classification System,United States,2017,page 18.7 Executive Office of the President Office of Management and Budget,North American Industry Classifi

58、cation System,United States,2017,page 188 Executive Office of the President Office of Management and Budget,North American Industry Classification System,United States,2017,page 13.12The U.S.Music Industries:Jobs&Benefits The 2024 Report2.2|IDENTIFYING THE MUSIC INDUSTRYIn this report,NAICS data are

59、 typically included as part of the broader groups within the overall music industry.At the most aggregated level,such industry groups can provide a useful perspective from which to assess the size and scope of the U.S.recorded music industries.These industry groups are then adjusted,as necessary,to

60、reflect the percentage attributable to music/audio goods and services.Table 2.0 lists the NAICS codes used in this analysis to represent the music industry through 2021.The NAICS codes have been grouped based on the first three digits of the code.TABLE 2.0:ILLUSTRATION OF INDUSTRIAL CLASSIFICATION S

61、YSTEM NAICS GroupingNAICS CodeNAICS Mapping300-399:Software and Disc Production334310334614339992Audio/video equipment mfg.Software,other prerecorded CD,tape,record reproducingMusical instrument mfg.400-499:Retail and Wholesale Activities423990443142451140Misc.durable goods wholesaler*Electronics st

62、ores*Instrument/music supply stores500-599:Music Production and Distribution512230Music publishers512240Sound recording studios512250Record production and distribution512290Other sound recording industries515112Radio stations515210Cable and other subscription programming*518210Data processing/hostin

63、g*519130Internet publishing,broadcasting,and web search portals*532289Other consumer goods rental*600-699:Music Education611610Fine art schools*700-799:Agents,Managers,Promoters711130711310711410711510Musical groups and artistsPromoters of performing arts,etc.Agents/managers for artists,etc.Independ

64、ent artists,etc.*Receipts are adjusted to reflect the percentage attributable to music/audio goods and services.The first grouping of interest is software and disc production,which encompasses NAICS codes 300-399,and this analysis considers audio and video manufacturing,software,other prerecorded di

65、scs,tape and record reproductions,and musical instrument manufacturing.NAICS codes 400-499 encompass retail and wholesale activities,including miscellaneous durable goods wholesalers,electronic stores,and instrument/music supply stores.Data for the wholesaler and electronic store industries are adju

66、sted to reflect the percentage attributable to retail and wholesale of audio goods.13The U.S.Music Industries:Jobs&Benefits The 2024 ReportMusic production and distribution(NAICS 500-599)is the largest grouping in this analysis and includes industries ranging from sound recording studios and record

67、production to terrestrial radio stations and internet broadcasting.Data for other consumer goods rental are adjusted to reflect the percentage attributable to audio goods.Similarly,data processing/hosting and internet publishing/broadcasting industries are adjusted to reflect the percentage attribut

68、able to music streaming.Music education(NAICS 600-699)is the smallest grouping and is represented in this analysis by a single industry fine art schools.Data for fine art schools are similarly adjusted to reflect the percentage attributable to music education.The grouping covering agents,managers an

69、d promoters(NAICS 700-799)includes musicians,artists,promoters,agents and managers of performing artists,and independent artists.2.3|A MODEL FOR THE ECONOMYFor subsequent sections of the report that look to determine the overall economic impact of the U.S.Music Industry,we use an input-output model9

70、 that produces industry specific“multipliers”that differ by product,year,and geographic unit to estimate the ripple effects emanating from direct music-related activity.In this instance,the multipliers were developed by the U.S.BEA in an input-output model known as the Regional Input-Output Modeling

71、 System(“RIMS II”).10 Models like RIMS II describe the“interconnectedness of the industries,households and government entities in an areathe output of an industry will appear as the input of other industries.”11 We followed the same methodology developed in the last report,12 where we accounted for

72、the value generated both within and across state borders.For the current analysis,RIMS II Multipliers(2012/2018)13 were implemented.The same multipliers were applied for every year for a given industry and geographic unit;hence any changes in economic impact can be viewed as economic growth and not

73、changes in spending pattern or interconnectedness across sectors in the economy.As it is appropriate,when calculating economic impact,receipts were expressed on the same currency year as the RIMS II multipliers.Once impacts were obtained,they were adjusted to 2022 dollars as to be more easily interp

74、retable on the time this report is being published.We show economic impact using several measures:Employment,Earnings,and Value Added(which is equivalent to GDP contribution).a.Earnings includes wages,salaries and proprietors income(the compensation a proprietor receives in exchange for the work put

75、 into the business).Employer contributions for health insurance are also included in this computation.i.Similarly,Employment is a measure of the number of jobs tied to the music industry or adjacent sectors,depending on whether we are talking about direct or ripple effects.b.Value Added refers to th

76、e difference between input costs and value of the output supported by the music industries.9“The fundamental purpose of the input-output framework is to analyze the interdependence of industries in an economy,”Miller,R.E,and Blair,P.D.“Input-Output Analysis:Foundations and Extensions”2nd Edition.10

77、The Bureau of Economic Analysis does not endorse any resulting estimates and/or conclusions in this report.11 Economic Modeling Specialists Inc.(2006)“Practical Input-Output Modeling for Regional Development.”12 See The U.S Music Industries Jobs&Benefits:The 2020 Report,by Robert Stoner and Jssica D

78、utra of Secretariat,prepared for the Recording Industry Association of America(RIAA),December 2020,available at ,section VI.13 When calculating RIMS II,the BEA used 2012 national benchmark input-output data and 2018 regional data.These multipliers were first released in June 2020.14The U.S.Music Ind

79、ustries:Jobs&Benefits The 2024 ReportIn this report,we describe and quantify the music industrys economic impact in two dimensions:direct effects,and ripple effects(both indirect and induced).a.Direct Effects are associated with the initial production of the industry.In the case of the music industr

80、y,the output produced is comprised of record labels production and purchases of goods,services,the production of audio equipment,discs,musical instruments,the digital music streaming and radio stations broadcasting,live performance,etc.,and labor in the local economy and from more distant suppliers.

81、It will also capture other components devoted to specific projects like construction of facilities.b.Ripple Effects account for all production along the supply chain for both sound recording industries and its suppliers with inputs,and the additional production triggered by spending on payroll and p

82、urchases of these suppliers.i.Indirect Effects account for the fact that each supplier of goods and services to a manufacturer purchases its inputs from other suppliers.ii.Induced Effects account for employees within the directly and indirectly affected industries spending their increased income and

83、 thus triggering additional production.III.MUSIC INDUSTRY METRICS BY GROUPIn order to generate the metrics for each of the industry groups described above in section 2,and ultimately the metrics for the aggregate of the music industries,one starts with the individual NAICS codes and uses their respe

84、ctive RIMS II multipliers to estimate earnings(which can be broken into direct and ripple values),employment(which can also be broken into direct and ripple effects),and value added.14 In Tables 3.0 through 3.8,the value for each metric is provided by NAICS grouping.These data are presented for the

85、years 2017 and 2020 and values are expressed in 2022 U.S.dollars.Receipts and final demand metrics on the individual NAICS code level are presented in Appendix I.They are also organized by NAICS grouping.3.1|RECEIPTSTABLE 3.0:U.S.TOTAL MUSIC INDUSTRY RECEIPTS BY NAICS GROUPING($1,000)NAICS20172020Av

86、erage Annual Percentage ChangeCumulative Change300-399$7,408,157$10,522,24612.4%42.0%400-499$6,295,179$6,438,0660.8%2.3%500-599$44,388,939$52,704,0375.9%18.7%600-699$106,569$117,9113.4%10.6%700-799$60,478,347$71,277,6405.6%17.9%Total$118,677,191$141,059,8995.9%18.9%Note:Estimated receipts with Censu

87、s SUSB and CBP.14 RIMS II doesnt offer a breakout of direct and ripple effects for value added.15The U.S.Music Industries:Jobs&Benefits The 2024 ReportReceipts are our starting point to estimate economic impacts.Table 3.0 above reports the growth of U.S.music industry receipts by NAICS grouping from

88、 2017 to 2020.Total receipts grew by 18.9%from$118.7 billion in 2017 to$141.1 billion in 2020,with an average annual percentage change of 5.9%,which is a very healthy growth.Each music industry grouping experienced growth on its own,with software and disc production(NAICS 300-399)experiencing the fa

89、stest cumulative growth at 42%(average annual percentage change of 12.4%),15 and retail and wholesale activities(NAICS 400-499)experiencing the slowest cumulative growth at 2.3%(average annual percentage change of 0.8%).3.2|EARNINGSEarnings is an important measure of economic impact.It consists of w

90、ages,salaries and proprietors income.Employer contributions for health insurance are also included in this computation.Table 3.1 below measures final demand earnings(i.e.,not only earnings generated directly by the music industry,but also earnings emanating from music industry-related ripple effects

91、).Total final demand earnings grew 16.8%from$93.5 billion in 2017 to$109.3 billion in 2020,representing an annual average growth rate of 5.3%.TABLE 3.1:U.S.TOTAL FINAL DEMAND EARNINGS BY NAICS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-399$5,777,739$8,264,582 1

92、2.7%43.0%400-499$5,740,946$5,860,617 0.7%2.1%500-599$31,840,111$36,033,103 4.2%13.2%600-699$104,934$116,122 3.4%10.7%700-799$50,074,872$58,996,287 5.6%17.8%Total$93,538,602$109,270,711 5.3%16.8%Note:Estimated using estimated receipts and RIMS II multipliers.TABLE 3.2:U.S.TOTAL DIRECT EARNINGS BY NAI

93、CS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-399$2,249,074$3,143,447 11.8%39.8%400-499$2,601,922$2,654,867 0.7%2.0%500-599$11,325,637$12,654,936 3.8%11.7%600-699$44,240$48,948 3.4%10.6%700-799$23,670,225$27,783,038 5.5%17.4%Total$39,891,097$46,285,237 5.1%16.0

94、%Note:Estimated using estimated receipts and RIMS II multipliers.15 While this growth cannot all be attributed to the resurgence of vinyl as an important media consumption category,it definitely has contributed to it.See footnote 3.16The U.S.Music Industries:Jobs&Benefits The 2024 ReportTABLE 3.3:U.

95、S.TOTAL INDIRECT/INDUCED EARNINGS BY NAICS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-399$3,528,665$5,121,134 13.2%45.1%400-499$3,139,024$3,205,750 0.7%2.1%500-599$20,514,474$23,378,166 4.5%14.0%600-699$60,694$67,174 3.4%10.7%700-799$26,404,647$31,213,250 5.7%1

96、8.2%Total$53,647,504$62,985,474 5.5%17.4%Note:Estimated using estimated receipts and RIMS II multipliers.Final demand earnings figures presented in Table 3.1 above are broken out between direct earnings in Table 3.2 and ripple effect(indirect and induced)earnings in Table 3.3.Ripple effect earnings

97、accounted for about 57.4%of final demand earnings in 2017(at$53.6 billion)and accounted for about 57.6%of final demand earnings in 2020(at$63.0 billion).Both direct and indirect/induced earnings have grown significantly within the observed time period.As such,the U.S.music industry has shown an earn

98、ings multiplier of 2.36x over the 2017-2020 timeframe(i.e.,for every$1 in direct earnings in the music industry,an additional$1.36 is supported in other sectors of the economy).16 This multiplier is higher,for example than the U.S.video game industry(2.03)17 and the U.S.retail industry(2.25).18 3.3|

99、EMPLOYMENTTABLE 3.4:U.S.TOTAL FINAL DEMAND EMPLOYMENT BY NAICS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-39984,261123,03313.4%46.0%400-499136,410139,0180.6%1.9%500-599470,499533,5174.3%13.4%600-6992,6262,9063.4%10.6%700-7991,471,7451,740,8065.8%18.3%Total2,165

100、,5432,539,2805.5%17.3%Note:Estimated using estimated receipts and RIMS II multipliers.Final demand employment provides an estimate of part and full-time employment resulting from activities of the music industries and the ripple effects in the wider economy.Table 3.4 shows that U.S.total final deman

101、d employment grew at a slightly faster annual rate than the aforementioned final demand earnings at an average of 5.5%,with cumulative growth of 17.3%,increasing from 2.17 million jobs in 2017 to 2.54 million jobs in 2020.Final demand employment cumulative growth was strongest in the software and di

102、sc production grouping(NAICS 300-399)at 46%,and slowest in the retail and wholesale activities grouping(NAICS 400-499)at 1.9%.16 2.36=90,761,877/38,445,206 for 2020.17 TEConomy Partners,LLC“Video Games in the 21st Century:The 2020 Economic Impact Report”,prepared for The Entertainment Software Assoc

103、iation.18 PWC and National Retail Federation,“The Economic Impact of the US Retail Industry”May 2020.Calculation based on Table 14a.17The U.S.Music Industries:Jobs&Benefits The 2024 ReportTABLE 3.5:U.S.TOTAL DIRECT EMPLOYMENT BY NAICS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumu

104、lative Change300-39924,024 35,397 13.8%47.3%400-49977,563 78,932 0.6%1.8%500-599115,868 128,018 3.4%10.5%600-6991,490 1,649 3.4%10.6%700-799907,810 1,073,641 5.8%18.3%Total1,126,755 1,317,638 5.4%16.9%Note:Estimated using estimated receipts and RIMS II multipliers.TABLE 3.6:U.S.TOTAL INDIRECT/INDUCE

105、D EMPLOYMENT BY NAICS GROUPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-39960,237 87,636 13.3%45.5%400-49958,848 60,086 0.7%2.1%500-599354,631 405,499 4.6%14.3%600-6991,136 1,257 3.4%10.7%700-799563,936 667,164 5.8%18.3%Total1,038,787 1,221,643 5.6%17.6%Note:Estimated

106、 using estimated receipts and RIMS II multipliers.Final demand employment figures presented in Table 3.4 above are broken out between direct employment in Table 3.5 and indirect/induced employment in Table 3.6.Ripple effect(indirect and induced)employment accounted for approximately 47.9%of final de

107、mand employment in 2017 with 1.04 million jobs,and 48.1%of final demand employment in 2020 with 1.22 million jobs.Direct employment contributed to about 1.13 million jobs in 2017 and 1.32 million jobs in 2020,representing 52.0%of final demand employment in 2017 and 51.8%of final demand employment in

108、 2020.Ripple effect employment grew at a faster rate than direct employment,with a growth rate of 17.6%versus 16.9%.18The U.S.Music Industries:Jobs&Benefits The 2024 ReportFIGURE 3.7:TOTAL MUSIC SUPPORTED EMPLOYMENT,2017 AND 2020(THOUSANDS)Note:Note:Estimated using receipts and RIMS II multipliers.F

109、igure 3.7 above shows the direct employment and final demand employment(which includes ripple effects)supported by the music industry over the observed time period.The U.S.music industry had a 1.93x employment multiplier(i.e.,for every one job in music,an additional 0.93 job was supported in the lar

110、ger economy).19 This multiplier is higher than,for example the employment multiplier in the U.S.retail industry(1.62).20 19 1.93=2,539,280/1,317,638 for 2020.20 PWC and National Retail Federation,“The Economic Impact of the US Retail Industry”May 2020.Calculation based on Table E-62017Direct Employm

111、ent2020Direct Employment2017Indirect/Induced Employment2020Indirect/Induced Employment2017 Final Demand Employment2020 Final Demand Employment1,1271,0392,1661,3181,2222,53919The U.S.Music Industries:Jobs&Benefits The 2024 Report3.4|VALUE ADDEDTABLE 3.8:U.S.TOTAL FINAL DEMAND VALUE ADDED BY NAICS GRO

112、UPING($1,000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-399$10,704,266$15,157,172 12.3%41.6%400-499$10,004,349$10,220,417 0.7%2.2%500-599$64,762,366$75,674,021 5.3%16.8%600-699$172,741$191,165 3.4%10.7%700-799$93,824,572$110,569,105 5.6%17.8%Total$179,468,293$211,811,879 5.7%1

113、8.0%Note:Estimated using estimated receipts and RIMS II multipliers.Value Added can be thought of as contribution to Gross Domestic Product(GDP).For the music industry,the U.S.total final demand value added experienced an 18%cumulative growth from$179.5 billion in 2017 to$211.8 billion in 2020,as re

114、ported in Table 3.8.Similarly to our last report,we found a 1.50 x value added multiplier(i.e.,for every$1 of revenue generated in the music industries,a total of$1.50 is generated in the economy in contribution to GDP).3.5|ESTABLISHMENTSTABLE 3.9:U.S.TOTAL MUSIC ESTABLISHMENTS BY NAICS GROUPING($1,

115、000)NAICS20172020Average Annual Percentage ChangeCumulative Change300-3991,7701,765-0.1%-0.3%400-4999,0538,356-2.6%-7.7%500-5997,6597,7260.3%0.9%600-6992062192.1%6.5%700-799206,443234,0184.3%13.4%Total225,131252,0853.8%12.0%Note:Estimated using estimated receipts,RIMS II multipliers,and CBP data.An

116、estimate of music industry establishments broken down by NAICS groupings can be seen in Table 3.9,showing the brick-and-mortar footprint of the U.S.music industry.The number of overall music establishments has increased about 3.8%annually from 2017-2020,for a cumulative increase of 12%,or 26,954 new

117、 establishments.The overwhelming number of establishments come from the“Agents,Managers,Promoters”NAICS grouping(700-799),which had a substantial base and an impressive increase in this time interval,with a 13.4%cumulative increase.20The U.S.Music Industries:Jobs&Benefits The 2024 ReportIV:U.S.ALL-I

118、NDUSTRY TABLESThe NAICS industry groupings provided in most of the tables in this report can be combined to reflect“all industry”figures presented below.TABLE 4.0:U.S.TOTAL ALL-INDUSTRY TABLES,2017-2020 20172020Music Industry Receipts ($billions)$118.7$141.1Earnings($billions)$93.5$109.3Employment2,

119、165,5432,539,280Value Added($billions)$179.5$211.8Note:Estimated using estimated receipts and RIMS II multipliers.Table 4.0 reports U.S.totals for all NAICS groupings used in this analysis to represent the music industry.Earnings,employment and value added figures are final demand metrics that inclu

120、de the multiplied effects in the greater economy measured by the RIMS II model.All metrics experienced positive growth between 2017-2020.21 TABLE 4.1:U.S.TOTAL ALL-INDUSTRY TABLES,2017-2020 20172020Direct Employment1,126,7551,317,638Indirect/Induced Employment1,038,7871,221,643Direct Earnings($billi

121、ons)$39.9$46.3Indirect/Induced Earnings ($billions)$53.6$63.0Note:Estimated using estimated receipts and RIMS II multipliers.Additional U.S.total metrics for the music industry corresponding to earnings and employment are reported in Table 4.1.Direct employment increased from 1.127 million in 2017 t

122、o 1.318 million in 2020.Indirect/Induced employment grew from 1.039 million in 2017 to 1.222 million in 2020.Direct earnings increased from$39.9 billion in 2017 to$46.3 billion in 2020,while Indirect/Induced earnings increased from$53.6 billion to$63.0 billion in 2020.The summary level tables presen

123、ted thus far all reflect some form of aggregation by industry,by metric,or by year.The detailed values by NAICS for each of the metrics can be seen in Appendix I for the year 2020.21 As the CBP includes the employment during the week of March 12,it still does not capture the full effect of the pande

124、mic of the COVID-19.21The U.S.Music Industries:Jobs&Benefits The 2024 ReportV:GROWTH IN MUSIC INDUSTRY METRICS,PROJECTED 2021We also have attempted to project the music industrys economic impact into 2021 by estimating growth rates.The components of our growth rate analysis are presented in Table 5.

125、0 below.TABLE 5.0:MUSIC INDUSTRY GROWTH RATE COMPONENTS,2019-2021 AVERAGE ANNUAL GROWTHNAICSReal Revenue/Value Added GrowthEmployment Growth300-399115.4%-1.0%400-499,Retail Industries2-0.2%0.5%400-499,Wholesale Industries32.7%-1.6%500-599410.2%-5.2%600-6995-3.5%0.2%700-7996-7.0%-9.9%Notes:1 Real rev

126、enue growth comes from IFPI U.S.Physical Recorded Music Revenue data and CPI discount-ing.Employment growth comes from BEA Full-Time and Part-Time Employees by Industry Computer and Electronic Products data.2 Real value added growth comes from BEA Real Value Added by Industry Retail Trade data.Emplo

127、y-ment growth comes from BEA Full-Time and Part-Time Employees by Industry General Merchandise Stores data.3 Real value added growth comes from BEA Real Value Added by Industry Wholesale Trade data.Employ-ment growth comes from BEA Full-Time and Part-Time Employees by Industry Wholesale Trade data.4

128、 Real revenue growth comes from IFPI U.S.Total Recorded Music Revenue data and CPI discounting.Employment growth comes from BEA Full-Time and Part-Time Employees by Industry Motion Picture and Sound Recording Industries and Broadcasting and Telecommunications data.5 Real value added growth comes fro

129、m BEA Real Value Added by Industry Educational Services data.Employment growth comes from BEA Full-Time and Part-Time Employees by Industry Educational Services data.6 Real value added growth comes from BEA Real Value Added by Industry Arts,Entertainment,and Recreation data.Employment growth comes f

130、rom BEA Full-Time and Part-Time Employees by Indus-try Arts,Entertainment,and Recreation data.Sources:IFPI,Global Music Report,2022;BLS CPI for All Urban Consumers(CPI-U);BEA Full-Time and Part-Time Em-ployees by Industry,Released September 30,2022;BEA Real Value Added by Industry,Released December

131、22,2022.In order to capture the impact of the pandemic in the U.S.,the growth rates applied to the various subsectors of the music industry depicted in Table 5.0 are the average of annual growth from 2019-2021,which enables us to account more fully for the retraction that occurred in most sectors of

132、 the economy at the height of the pandemic in 2020,as well as to reflect the partial recovery observed in 2021.Additionally,unlike our previous reports where we had a single growth rate applied uniformly across the music industry in order to project future values,the present report aims to capture a

133、 fuller picture and recognize that 22The U.S.Music Industries:Jobs&Benefits The 2024 Reportthe music industry,although comprising a consistent group of goods and services,responds to the economic environment in different ways and by distinct magnitudes depending on subsector.Therefore,growth rates f

134、or receipts,earnings,and value added were estimated by either real revenue or real value-added growth within each subsector,whereas employment growth was estimated by the employment growth for each subsector.Specific sources are fully described in the notes to Table 5.0.TABLE 5.1:GROWTH IN MUSIC IND

135、USTRY METRICS,PROJECTED 2021 2020GrowthProjected 2021Music Industry Receipts($billions)$141.06 1.014$143.09 Music Industry Earnings($billions)$109.27 1.008$110.10 Music Industry Employment2,539,2800.9212,338,829Music Industry Value Added($billions)$211.81 1.011$214.16 Note:Estimated using estimated

136、receipts and RIMS II multipliers.Growth comes from IFPI and BEA.In Table 5.1,the resulting calculated growth rates are applied to this reports 2020 metrics of the music industry(which for earnings,employment and value added include ripple effects)to project 2021 receipts($143.0 billion),earnings($11

137、0.1 billion),employment(2,338,829)and value added($214.2 billion).TABLE 5.2:MUSIC INDUSTRY VALUE ADDED SHARE OF TOTAL U.S.REAL GDP,2017-2021($BILLIONS)2017201820192020Projected 20212017 2021 Average Annual Growth2017-2020 Average Annual GrowthMusic Industry,U.S.Estimate$179.5$205.2$211.7$211.8$214.2

138、4.5%5.7%Total U.S.Real GDP$23,449.3$24,257.0$24,694.4$23,997.4$24,820.01.4%0.8%Share of U.S.Real GDP0.77%0.85%0.86%0.88%0.86%-Source:Estimated using estimated receipts and RIMS II multipliers.Growth from IFPI and BEA,U.S.GDP comes from BEA.As seen in Table 5.2,the music industrys contribution to tot

139、al U.S.real GDP grew from 0.77%in 2017 to projected 0.86%in 2021.Music industry value added has also been growing at significantly faster rate than U.S.GDP.The compound annual growth rate of music industry value added is 4.5%from 2017 2021 and 5.7%from 2017-2020,while total U.S.real GDP has grown 1.

140、4%from 2017-2021 and 0.8%from 2017-2020.23The U.S.Music Industries:Jobs&Benefits The 2024 ReportTABLE 5.3:MUSIC INDUSTRY EMPLOYMENT SHARE OF TOTAL U.S.EMPLOYMENT,2017-2021 2017201820192020Projected 20212017-2021 Average Annual Growth2017-2020 Average Annual GrowthMusic Industry,U.S.Estimate2,165,543

141、2,466,0262,548,0262,539,2802,338,828.591.9%5.5%Total U.S.Employment150,654,000153,176,000155,324,000146,542,000150,740,0000.0%-0.9%Share of U.S.Employment1.4%1.6%1.6%1.7%1.6%-Source:Estimated using estimated receipts and RIMS II multipliers.Growth and U.S.employment comes from BEA.Table 5.3 reports

142、the music industrys contribution to total U.S.employment.The music industry accounted for 1.4%of U.S.employment in 2017 and is projected to account for 1.6%in 2021.Music industry employment grew 1.9%between 2017-2021,compared to U.S.employment growth that stayed constant for the same period.VI:STATE

143、 BY STATE VALUESThe analyses presented thus far in this report have focused on national metrics for various music industry calculations(some built up from state values).While U.S.music industry values are obviously useful,there may be additional insights to be gained through a review of music indust

144、ry metrics by state.The data presented in Appendix II show state-by-state analyses(for all fifty states and the District of Columbia)for each music industry variable.Below we also present data on six states which maintain significant business in the music industries and have consistently ranked at t

145、he top in terms of various economic measures previously described.These states are California,New York,Tennessee,Florida,Pennsylvania,and Texas.In Table 6.0 music industry value added data for each of the prominent six states(as well as the aggregate U.S.number)are compared to their respective state

146、 GDP in order to assess the percentage music industry contribution.For example,the music industry in New York generated$24.9 billion in music industry value in 2020.In the same year,state GDP in New York was$1983.6 billion.Dividing music industry value added by state GDP results in a music industry

147、value added contribution in New York of 1.3%of state GDP.This value-added percentage can then be compared with a U.S.average percentage of 211.8/23,997.3=or 0.9%.Thus,the music contribution to GDP of New York is about 1.3x the rate that music contributes to U.S.GDP.As another example,Tennessees musi

148、c industries contribute nearly twice as much to that states GDP(1.7%)as national music industries contribute to U.S.GDP(0.9%).1.3XContribution of music to New York state GDP relative to national average1.7XContribution of music to Tennessee state GDP relative to national average24The U.S.Music Indus

149、tries:Jobs&Benefits The 2024 ReportTABLE 6.0:MUSIC INDUSTRY CONTRIBUTION TO GDP BY STATE,2020 Music Industry GDP ($billions)GDP ($billions)Music Industry Contribution to GDPU.S.$211.8$23,997.30.9%California$51.4$3,441.31.5%Florida$9.3$1,272.50.7%New York$24.9$1,983.61.3%Pennsylvania$6.4$879.20.7%Ten

150、nessee$7.5$431.91.7%Texas$8.2$2,039.50.4%Note:Estimated using estimated receipts and RIMS II multipliers.State and US GDP come from BEA.MUSIC INDUSTRY CONTRIBUTION TO GDPCALIFORNIA$51.4BTEXAS$8.2BFLORIDA$9.3BTENNESSEE$7.5BPENNSYLVANIA$6.4BNEW YORK$24.9B25The U.S.Music Industries:Jobs&Benefits The 20

151、24 ReportAn important element in the overall state-based picture is which states rank at the top of each performance metric within the U.S.Table 6.1 shows a summary of the top six states for each of the relevant measures(earnings,employment,and value added).For a complete list of metrics used in thi

152、s report for all 50 states and DC,please refer to Appendix II.TABLE 6.1:MAJOR CONTRIBUTORS STATE SUMMARY,2020CaliforniaNew YorkFloridaTexasTennesseePennsylvaniaFinal Demand Earnings($millions)$24,392.29$10,351.02$4,976.81$4,469.54$3,083.96$3,258.30Final Demand Employment460,127210,878169,706132,2926

153、7,281114,731Final Demand Value Added($millions)$51,355.71$24,912.82$9,327.23$8,228.34$7,457.27$6,398Note:Estimated using estimated receipts,and RIMS II multipliers.MUSIC INDUSTRY CONTRIBUTION TO EMPLOYMENTCALIFORNIA460,127TEXAS132,292FLORIDA169,706TENNESSEE67,281PENNSYLVANIA114,731NEW YORK210,878In

154、Table 6.2 music industry establishments data for each of the prominent six states(as well as the aggregate U.S.number)are compared to the states total number of establishments in order to assess the percentage music industry contribution.For example,the music industry in California accounted for 80,

155、433 music industry establishments in 2020.In the same year,the total number of establishments in California was 5,854,299.Dividing music industry establishments by the total results in music industry contribution to establishments in California of 1.4%.This value can then be compared with a U.S.musi

156、c industry contribution to establishments of 252,085/46,604,029=or 0.5%.Thus,the music industry contribution to establishments in California is over two and a half times the rate that music contributes to U.S.26The U.S.Music Industries:Jobs&Benefits The 2024 ReportCALIFORNIA5,854,299TEXAS3,610,562FL

157、ORIDA3,512,185TENNESSEE803,110PENNSYLVANIA1,775,429NEW YORK3,187,033establishments.Similarly,New Yorks music industries contribute 40%more to that states establishments than national music industries contribute to U.S.establishments.TABLE 6.2:MUSIC INDUSTRY CONTRIBUTION TO TOTAL ESTABLISHMENTS BY ST

158、ATE,2020 Number of Music EstablishmentsTotal EstablishmentsMusic Industry Contribution to Total EstablishmentsU.S.252,08546,604,0290.5%California80,4335,854,2991.4%Florida22,5333,512,1850.6%New York22,0173,187,0330.7%Texas12,4083,610,5620.3%Pennsylvania5,3641,775,4290.3%Tennessee4,754803,1100.6%Note

159、:Estimated using estimated receipts,RIMS II multipliers,and CBP data.MUSIC INDUSTRY CONTRIBUTION TO NUMBER OF MUSIC ESTABLISHMENTS27The U.S.Music Industries:Jobs&Benefits The 2024 ReportVII:MUSIC INDUSTRY IN THE DIGITAL ECONOMYMeasuring and tracking the digital economy has been an effort taken not o

160、nly in the U.S.but also in different economies around the world.The goal is to understand the contribution to the overall economy of the industries that heavily rely on the conversion of information into digital form.It has been shown,for example,that the copyright industries are responsible for nea

161、rly 65%of the U.S.Digital Economy Value Added,and 58.9%of its employment.22 The music industry has also been an important contributor to the digital economy as it is currently defined23 given the strong presence of streaming as a format of music consumption.24 However,other aspects of the music indu

162、stry,such as sound recording and music publishing werent accounted for as part of the last digital economy definition put forth in the U.S.,nor are they presently accounted for in several other economies despite strongly relying on digital processes in their production and distribution.In contrast,U

163、.S.trade agreements including the most recent adopted by the U.S.Congress(i.e.,the U.S.-Mexico-Canada Agreement)which govern the trade in goods and services across the U.S.boarder,incorporate legally binding commitments on the parties with respect to“digital products,”which include sound recordings

164、and other creative content.25From the music industry,while digital music streaming is included in the U.S.digital economy,sound recording and music publishing isnt,a stark contrast with motion picture,where both streaming/broadcasting,and motion picture and video production are included in the BEAs

165、definition.The music industry is also accounted for in the U.S.digital economy through e-commerce margins of musical instruments,retail and wholesale of physical media.The decision not to account for sound recording and music publishing in the U.S.digital economy need not be a permanent one.In fact,

166、there had been a few signs pointing to potential changes.Some areas of potential change had been signaled by the BEA,including additional digital goods and services,accounting for digital inputs to production,among others.26 The main reason for the current imprecision is that there is currently no u

167、niversally accepted definition of what constitutes the digital economy,27 and organizations such as the OECD meet regularly to propose comprehensive yet relatively broad definitions that each member country can adjust to its particular situation in order to compare indicators.Sound recording and mus

168、ic publishing are listed in the OECD Guidelines for Supply-Use tables for the Digital Economy as non-digital products that are significantly affected by digitalization,and thus should be more closely analyzed,adding that“the products included in this sub-group have been selected on the basis that th

169、e way that the associated services are delivered to consumers has been significantly,or soon will be,affected by the digital transformation either because the services are digitally delivered or because the sector has been significantly affected by digital intermediation platforms.”26 While the UK c

170、urrently defines 22 Copyright Industries in the U.S.Economy:The 2022 Report,by Robert Stoner and Jssica Dutra of Secretariat,prepared for the International Intellectual Property Alliance(IIPA),December 2022,available at www.iipa.org23ForthelatestdefinitionofthedigitaleconomybytheBEA,seeNAICSlistedin

171、AppendixTable1athttps:/www.bea.gov/system/files/2022-05/New%20and%20Revised%20Statistics%20of%20the%20U.S.%20Digital%20Economy%202005-2020.pdf24 Digital distribution of music accounted for 84%of revenues in 2022(RIAA,“Year-End 2022 RIAA Revenue Statistics”,available at ).Most music streaming platfor

172、ms are allocated under NAICS codes data processing/hosting(NAICS 518210)and internet publishing/broadcasting(NAICS 519130)and hence are part of the current definition of the U.S.digital economy.25 US-Mexico-Canada Agreement,Chapter 19,Article 19.1,“digital product means a computer program,text,video

173、,image,sound recording,or other product that is digitally encoded,produced for commercial sale or distribution,and that can be transmitted electronically.For greater certainty,digital product does not include a digitized representation of a financial instrument,including money”;available at:https:/u

174、str.gov/sites/default/files/files/agreements/FTA/USMCA/Text/19-Digital-Trade.pdf 26 OECD.(2019).“Guidelines for Supply-Use Tables for the Digital Economy”,paper presented at Working Party on National Accounts,Paris,1-2 July 2019.Section 3.2.5.28The U.S.Music Industries:Jobs&Benefits The 2024 Reporti

175、ts digital economy excluding this category of products,it has listed them as its next phase of expansion.27 Canada on the other hand already integrates sound recording and music publishing in their digital economy definition and computation.28The U.S.has much to gain through a more comprehensive und

176、erstanding of the breadth of the digital economy,because digitalization is one of the primary forces pushing economic growth and innovation.This,in turn,would enable a better documentation of the music industrys full contribution to the digital economy.Unfortunately,the BEAs Digital Economy Satellit

177、e Account is no longer produced due to budget constraints.The last update was December 6,2023.27 Office of National Statistics,“UK Digital Economy Research:2019”.Released 28 January 2022 UK Digital Economy Research:2019-Office for National Statistics(ons.gov.uk)28 Statistics Canada,“Measuring digita

178、l economic activities in Canada”Release date:May 3 2019,Correction date May 9,2019.See Annex A SUPC codes MPS512201,MPS512202,and MPS512203 Measuring digital economic activities in Canada:Initial estimates(statcan.gc.ca)29The U.S.Music Industries:Jobs&Benefits The 2024 ReportVIII:CONCLUSIONSOver the

179、 time frame presented in this and earlier reports,the music industries have occupied an important place as a driver of U.S.economic prosperity and growth by sustaining rates above those of the U.S.economy as measured by the GDP,fostering employment that supports over 2.5 million jobs and generating

180、value for the U.S.economy through the addition of$211.8 billion to GDP.The U.S.music industries have been able to remain relevant,and to reinvent themselves to meet consumer needs in an increasingly digitalized world,through the rise of streaming technology and intra-industry competition which has f

181、ostered innovation.However,the music industrys contribution to the digital economy shouldnt be thought of as confined simply to streaming.Our continuing goal is to strive to improve the methodology to give the most accurate picture of the impact of the relevant music industries on the economy.We hav

182、e expanded on the sources used to project the latest year of economic impact to accommodate for sub-sector specificities within the music industry.The report also provides a detailed review of the full extent of music industry activities nationally and for each state and DC.These music industries ar

183、e identified across multiple NAICS codes and industry groupings,meaning the results give the widest view of the economic impact of the music industries in any summary report.30The U.S.Music Industries:Jobs&Benefits The 2024 ReportAPPENDIX I Appendix Table 1.0:NAICS 300-399,SOFTWARE AND DISC PRODUCTI

184、ON,U.S.TOTAL FINAL DEMAND 2020NAICS CodeNAICS MappingEstimated Receipts ($thousands)Final Demand Earnings ($thousands)Final Demand EmploymentFinal Demand Value Added ($thousands)334310Audio and Video Equipment Manufacturing4,714,7454,196,59457,4687,197,058334614Software and Other Prerecorded Compact

185、 Disc,Tape,and Record Reproducing1,433,797918,63412,2712,008,893339992Musical Instrument Manufacturing4,373,7043,149,35453,2945,951,222Industry Total10,522,2468,264,582123,03315,157,172Appendix Table 1.1:NAICS 400-499,RETAIL AND WHOLESALE ACTIVITIES,U.S.TOTAL FINAL DEMAND 2020NAICS CodeNAICS Mapping

186、Estimated Receipts ($thousands)Final Demand Earnings ($thousands)Final Demand EmploymentFinal Demand Value Added ($thousands)423990Other Miscellaneous Durable Goods Merchant Wholesalers (Adjusted*)402,238290,0904,434584,371443142Electronics Stores(Adjusted*)487,933450,70610,887779,693451140Musical I

187、nstrument and Supplies Stores5,547,8955,119,821123,6968,856,353Industry Total6,438,0665,860,617139,01810,220,417Notes:*Receipts have been adjusted to reflect that the wholesale/retail of audio goods accounts for 0.66%of total wholesale/retail receipts.Estimated using estimated receipts and RIMS II m

188、ultipliers.31The U.S.Music Industries:Jobs&Benefits The 2024 ReportAppendix Table 1.2:NAICS 500-599,MUSIC PRODUCTION AND DISTRIBUTION,U.S.TOTAL FINAL DEMAND 2020NAICS CodeNAICS MappingEstimated Receipts ($thousands)Final Demand Earnings ($thousands)Final Demand EmploymentFinal Demand Value Added ($t

189、housands)512230Music Publishers6,543,7212,269,36334,8898,021,293512240Sound Recording Studios1,214,794420,8426,4751,488,200512250Record Production and Distribution12,096,6194,192,83764,48414,823,503512290Other Sound Record-ing Industries624,170216,4623,328765,108515112Radio Stations15,270,22117,302,

190、259247,14126,696,707515210Cable and Other Subscription Programming (Adjusted*)882,432761,92310,7021,344,370518210Data Processing,Hosting,and Related Services(Adjusted*)8,552,4075,970,11695,11812,069,053519130Internet Publishing and Broadcasting and Web Search Portals (Adjusted*)7,475,6674,859,61970,

191、69410,396,584532289All Other Consumer Goods Rental (Adjusted*)44,00639,68168569,202Industry Total52,704,03736,033,103533,51775,674,021Notes:*Receipts reflect BMI data that has been adjusted to account for BMI market share.*Receipts have been adjusted to reflect that video and audio streaming account

192、s for 3.84%of total data processing/hosting receipts.*Receipts reflect streaming revenues from the IFPI Global Music Report*Receipts have been adjusted to reflect that the retail of audio goods accounts for 0.66%of total retail receiptsEstimated using estimated receipts and RIMS II multipliers.32The

193、 U.S.Music Industries:Jobs&Benefits The 2024 ReportAppendix Table 1.3:NAICS 600-699,MUSIC EDUCATION,U.S.TOTAL FINAL DEMAND 2020NAICS CodeNAICS MappingEstimated Receipts ($thousands)Final Demand Earnings ($thousands)Final Demand EmploymentFinal Demand Value Added ($thousands)611610Fine Arts Schools(A

194、djust-ed*)117,911116,1222,906191,165Industry Total117,911116,1222,906191,165Notes:*Receipts have been adjusted to reflect that music education accounts for 1.6%of fine arts schools.Estimated using estimated receipts and RIMS II multipliers.Appendix Table 1.4:NAICS 700-799,AGENTS,MANAGERS,PROMOTERS,U

195、.S.TOTAL FINAL DEMAND 2020NAICS CodeNAICS MappingEstimated Receipts ($thousands)Final Demand Earnings ($thousands)Final Demand EmploymentFinal Demand Value Added ($thousands)711130Musical Groups and Artists8,029,2297,291,115244,00812,919,822711310Promoters of Performing Arts,Sports,and Similar Event

196、s with Facilities23,674,11419,324,922662,73636,365,628711410Agents and Managers for Artists,Athletes,Entertainers,and Other Public Figures12,079,2249,866,779338,30518,567,458711510Independent Artists,Writers,and Performers27,495,07322,513,472495,75642,716,197Industry Total71,277,64058,996,2871,740,8

197、06110,569,105Note:Estimated using estimated receipts and RIMS II multipliers.33The U.S.Music Industries:Jobs&Benefits The 2024 ReportAPPENDIX IIAppendix Table 2.0:MUSIC INDUSTRY FINAL DEMAND VALUE ADDED BY STATE,2020StateFinal Demand Value Added($millions)StateFinal Demand Value Added($millions)Stat

198、eFinal Demand Value Added($millions)StateFinal Demand Value Added($millions)AK$190.34ID$384.50MT$219.72RI$500.35AL$692.50IL$5,237.29NC$2,514.96SC$1,032.22AR$342.25IN$1,304.23ND$154.28SD$300.43AZ$1,961.49KS$498.31NE$600.00TN$7,457.27CA$51,355.71KY$520.19NH$438.66TX$8,228.34CO$2,882.81LA$1,463.33NJ$2,

199、849.69UT$1,377.90CT$1,371.31MA$3,529.15NM$492.75VA$1,914.72DC$1,161.58MD$1,522.63NV$1,698.35VT$271.07DE$204.30ME$269.99NY$24,912.82WA$3,370.08FL$9,327.23MI$2,454.74OH$3,081.09WI$1,625.15GA$2,830.56MN$2,771.22OK$560.44WV$114.22HI$377.54MO$1,575.28OR$1,801.45WY$82.29IA$390.34MS$124.19PA$6,397.73 Note:

200、Estimated using estimated receipts and RIMS II multipliers.Appendix Table 2.1:MUSIC INDUSTRY FINAL DEMAND EMPLOYMENT BY STATE,2020StateFinal Demand EmploymentStateFinal Demand EmploymentStateFinal Demand EmploymentStateFinal Demand EmploymentAK3,650ID7,912MT2,920RI9,855AL13,028IL64,729NC43,820SC19,6

201、71AR6,158IN18,599ND1,795SD7,637AZ30,934KS6,495NE10,316TN67,281CA460,127KY8,282NH4,216TX132,292CO50,146LA30,749NJ44,068UT23,734CT15,195MA45,200NM10,198VA29,246DC4,811MD18,980NV23,343VT4,122DE3,204ME3,975NY210,878WA47,120FL169,706MI38,663OH49,067WI22,189GA44,934MN40,376OK9,000WV2,085HI4,207MO26,161OR2

202、8,118WY1,070IA5,712MS1,709PA114,731Note:Estimated using estimated receipts and RIMS II multipliers.34The U.S.Music Industries:Jobs&Benefits The 2024 ReportAppendix Table 2.2:TOTAL NUMBER OF MUSIC ESTABLISHMENTS BY STATE,2020StateEstablishmentsStateEstablishmentsStateEstablishmentsStateEstablishments

203、AK476ID1,031MT687RI603AL778IL7,531NC5,750SC1,757AR599IN1,321ND186SD805AZ4,424KS582NE781TN4,754CA80,433KY1,273NH310TX12,408CO8,221LA1,829NJ6,345UT4,240CT1,257MA3,167NM1,278VA3,325DC266MD2,260NV3,294VT403DE1,144ME646NY22,017WA6,636FL22,533MI2,272OH2,610WI1,629GA11,426MN2,810OK1,341WV79HI643MO3,065OR4,

204、391WY299IA546MS261PA5,364 Note:Estimated using estimated receipts,RIMS II multipliers,and CBP data.35The U.S.Music Industries:Jobs&Benefits The 2024 ReportROBERT STONER-Managing DirectorJSSICA DUTRA-DirectorSECRETARIATPREPARED FOR Recording Industry Association of America(RIAA)October2024THE U.S.MUSIC INDUSTRIES:JOBS&BENEFITS THE 2024 REPORT