A recent comprehensive study shows that Nashville’s music industry contributes $5.5 billion annually to the local economy, for a total output of $9.7 billion within the Nashville Metropolitan Statistical Area (MSA). The study, commissioned by the Music City Music Council, also showed that Nashville has more music industry jobs than any other U.S. city in relation to population and total employment, including New York or Los Angeles.
According to the study’s findings, Nashville’s music industry creates and sustains more than 56,000 jobs in the Nashville area, supporting more than $3.2 billion of labor income annually.
Other findings supported are the core employment in Nashville’s music industry per 1,000 population and per 1,000 total employment, which exceeds New York and Los Angeles by 2.5 to 4 times. Nashville’s density of music industry activity is up to 10 times greater than New York or Los Angeles and is currently 2 to 30 times greater than the nation overall.
The study highlighted opportunities for Nashville, including potential to become a top music education hub via a music consortium. Growing video and film industries work as sibling industries to the music business and music entrepreneurship is steadily growing (nearly 23 percent of Nashvillians are self-employed, a figure much higher than the 18 percent national level).
“Music is what Nashville is known for worldwide, and now this study further validates its importance as an economic engine for the city,” Mayor Karl Dean said. “It’s clear that Nashville’s ability to attract musicians and other creative people in the music community is unparalleled. This report gives us insight into what’s driving our success in this industry so that we can further build on what’s already working. The message we want to send to the world is: If you’re in the music business, this is the place to be.”
The Music City Music Council is co-chaired by Mayor Dean and Randy Goodman, a longtime Music Row executive. The study was conducted by the Nashville Area Chamber of Commerce’s Research Center.
To view the full report, visit nashville.gov.
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