How Can This Figure Grow?

While the current value and benefits generated by the music industry are substantial, there is still significant room to grow. Many countries lack the institutions, including policies, frameworks, regulations, infrastructure, and norms, that support capturing music’s value as IP and treating music as an economy. In Africa, for example, the Atlantic Council points to a lack of IPR protections and enforcement, an absence of functioning copyright management institutions, and insufficient knowledge and administrative capacity to properly capture music's economic value. As the Atlantic Council points out, these deficiencies produce “lost opportunities—for wealth creation, solving youth unemployment, receipt of foreign exchange reserves, and development of local capital markets.”  

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