Copyright Industries Continue Robust Contributions To U.S. Economy, New Report Finds

U.S. copyright industries including the music publishing and songwriting communities 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 released today on Capitol Hill.
The National Music Publishers’ Association commissioned the report, Copyright Industries in the U.S. Economy, along with other major copyright trade organizations as part of the International Intellectual Property Alliance.

NMPA President and CEO David Israelite, speaking at a news conference on Capitol Hill to release the findings, said, “America’s creative industries including the songwriting and music publishing communities continue to generate jobs and economic growth,accounting for nearly 10 percent of all private sector jobs in 2010. Our industries also continue to contribute significantly to a positive balance of trade for America – $134 billion worth in exports. That exceeds other sectors of the economy like aircraft, automobiles, agricultural products and pharmaceuticals.

“America’s copyright industries continue to be a key economic driver, but that productivity and creativity is threatened more and more by digital theft. As the marketplacemoves online, making sure copyrights are enforced in the digital world as they are in the physical world will mean the difference between sustaining these jobs and seeing them dwindle and disappear.”

The report’s key findings include:

• In 2010, the value added by the core copyright industries was $931.8 billion or 6.36 percent of the U.S. economy. The value added by the total copyright industries was $1.627 trillion or 11.1 percent of GDP in 2010.

• During the period 2007-2010, the core copyright industries grew at an aggregate annual rate of 1.1 percent, and the totalcopyright industries grew at a rate of 1.47 percent, compared to the 0.05 percent average growth rate of the entire U.S. economy.

• The core copyright industries employed nearly 5.1 million workers in 2010, 3.93 percent of the entire workforce and 4.75 percent of total private employment. The 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.

• Sales of U.S. copyright products in overseas markets was $134 billion in 2010, outperforming multiple other sectors including aircraft ($77.5 billion), automobiles ($49.8 billion), agricultural products ($60.2 billion) and pharmaceuticals ($36.4 billion).

Note: The core industries are those industries whose 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.

Source: www.iipa.com