IFPI report breaks down music’s €81.9bn annual value for EU
Posted on: 17 novembre 2020, by : Stuart Dredge

As the music business scraps it out with every other industry for Covid-19 relief, a key part of its argument has been the economic value created by the industry. An aspect that’s at least well-rehearsed, since it is also deployed whenever the music industry is lobbying for changes to copyright legislation. The latest report commissioned by the IFPI will support both aims.
Published this morning, ‘The Economic Impact of Music in Europe’ is a collaboration with research firm Oxford Economics. The report claims that across the 27 EU member states plus the UK, the music sector supports two million jobs; contributes €81.9bn gross value added (GVA) annually to the 28 countries’ GDP; and has an export value of €9.7bn on top of that.
(“To put these into perspective, music’s economic contribution to the EU 28 was larger than the GDP of nine EU countries, and its music exports were even greater than those of its world-famous GI protected wines,” as IFPI boss Frances Moore put it in the foreword.)
The post IFPI report breaks down music’s €81.9bn annual value for EU appeared first on Music Ally.
Source: Music ally

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