Holy trillion! The International Intellectual Property Alliance (IIPA) – of which RIAA is a member – recently issued its report titled Copyright Industries in the U.S. Economy: The 2013 Report that lists some statistics on the value provided by U.S. copyright industries – think music, movies, books, software, video games, and other sectors – to the U.S. economy, and they paint a compelling picture. For example, the “core” copyright sectors like those mentioned above employed nearly 5.4 million workers – or 4 percent of total U.S. labor force – in 2012, and those workers’ average annual income is 33 percent higher than the average annual wage in the U.S. (see attached graphic for more info). In other words, these are good jobs that pay good wages (not to mention provide good entertainment!). But the number that caught our eye is the unprecedented $1 trillion in value added by the core copyright sectors to the U.S. GDP in a single year. So not only do the music, movies, books, and other copyright sectors fuel our nation’s culture, they help drive the commerce as well.
And that’s something we’re proud to be part of.
Check out IIPA’s news release, the full report, and other related materials at http://www.iipa.com/copyright_us_economy.html.
Those who follow @RIAA on Twitter, read this blog or have caught our Chairman & CEO Cary Sherman presenting at a campus or forum near you know we often discuss examples of how music is a centrifugal force of commerce and culture.
One way to view and consider just how much music is driving culture and innovation today? Look no further than top social networking and entertainment sites Twitter, YouTube and Facebook. You’ll find that 7/10 most followed on Twitter are musicians, 9/10 most watched videos ever on YouTube are professional music videos and that 9/10 most “Liked” celebrity accounts on Facebook are those of musicians. Take a look: