Music creates opportunity

The value created within the music industry and through music IP reverberates across countries and communities, producing spillover effects that generate value and employment across other industries, including live music, hospitality, transit, design, and more. The Recording Industry Association of America has estimated that for every $1 of revenue generated in the US music industry, an additional 50c was created in adjacent sectors. Music creates opportunity. In territories where youth unemployment is high, for example, music provides a way for young people to generate revenue and enter the employment market—whether as artists, entrepreneurs, or employees at other music businesses—which then allows them to partake in the broader consumer marketplace, feeding the entire downstream economy.