Copyright Industries Have Major Economic Impact

U.S. copyright industries employed more than 10.6 million workers and contributed more than $1.6 trillion to the U.S. economy in 2010, according to a new report.

The International Intellectual Property Alliance, made up of the National Music Publishers’ Association and other major copyright trade organizations, commissioned the report titled Copyright Industries in the U.S. Economy.

The report’s key findings include in 2010:

Value added to the economy
• Core copyright industries added $931.8 billion or 6.36 percent to the U.S. economy.
• Total copyright industries was $1.627 trillion or 11.1 percent of GDP.

Employment
• Core copyright industries employed nearly 5.1 million workers, 3.93 percent of the entire workforce and 4.75 percent of total private employment.
• Total copyright industries employed more than 10.6 million workers, or 8.19 percent of U.S. employment or 9.91 percent of all private employment.

Growth (2007-2010)
• Core copyright industries grew at an aggregate annual rate of 1.1 percent.
• Total copyright industries grew at a rate of 1.47 percent.
• The average growth rate of the entire U.S. economy was 0.05 percent.

The core industries’ primary purpose is to create, produce, distribute or exhibit copyright materials. These industries include books, newspapers and periodicals, motion pictures, recorded music, radio and television broadcasting, and computer software. The “total” copyright industries include the “core” as well as those whose revenues, etc. are dependent on the “core” industries, and include the “partial,” “non-dedicated support,” and “interdependent” sectors.

Details at www.iipa.com.

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Sarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.

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