MusicDish e-Journal - October 21, 2018
MusicDish Advertising Network
» HOME » INSIDER SCOOP » CAREER TIPS » MUSIC SPOTLIGHT » MUSICDISH*CHINA
» INDUSTRY INTERVIEWS » NEWS BEAT » DIGITAL SKOOL » OPEN REVIEW » MUSICDISH EDELWEISS
Search MusicDish e-Journal (Advanced)
Subscribe To MusicDish e-Journal
About | Contact | Advertise | RSS | Submit Article | Submit News | Artist Development | Premium PR Distribution
Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network

Nashville's Music Industry Worth $6.38 Billion
By Mi2N
(more articles from this author)
2006-01-11
Comment | Email | Print | RSS

A newly released study of the music industry in Nashville shows a total economic impact of $6.38 billion, according to Belmont University and the Nashville Area Chamber of Commerce.

Belmont, a Nashville-based liberal arts university with 4,300 students and a nationally renowned entertainment and music business program, conducted the music industry economic impact study. The Nashville Area Chamber of Commerce and its Music Associations Task Force commissioned the assessment. Results of the study were announced today.

"For the first time in Music City, everyone from policymakers and businesspeople to entertainers and everyday citizens will be able to grasp the true economic value of the music industry," said Dr. Patrick Raines, dean of the college of business and professor of economics at Belmont University.

Raines led the study along with Dr. LaTanya Brown, a former economics instructor at Belmont. Findings represent the economic impact of the music industry in the Nashville-Davidson-Murfreesboro Metropolitan Statistical Area (MSA). The assessment covered all major music genres, professional organizations, record labels, music performing rights organizations, music venues, music media, travel and hospitality, artist management and booking, and associated businesses.

Key findings:

Economic Impact--Direct spending by music industry firms in Nashville totaled $2.64 billion. The combined impact of direct and secondary spending totaled $3.96 billion. Music-related tourism accounts for another $2.42 billion in spending, bringing the total economic impact of the music industry in the Nashville MSA to $6.38 billion.

According to the report, the cities of Seattle; Austin, Texas; and Memphis, Tenn.; have conducted similar music industry studies, in addition to the state of Georgia. The cumulative direct spending impact for those studies was $3.14 billion.

Jobs--The study estimates there are 19,437 jobs directly related to music production. These jobs provide $722 million in annual labor income and pay an average annual wage of $37,200. An additional 19,826 jobs are indirectly created when music industry employees spend their income. Music-related tourism supports an additional 14,995 employees in the Nashville MSA, bringing the total employment impact of the music industry to more than 54,000 jobs.

Taxes--Sales taxes collected from core music businesses exceed $24 million annually, with property taxes adding another $45 million to local government treasuries. Accommodation taxes attributable to music-related tourism accounts for another $7 million, bringing the tax revenue generated by the music industry to more than $75 million.

Other Statistics--The Nashville MSA is home to more than 80 record labels, 130 music publishers, more than 180 recording studios, 27 entertainment publications and some 5,000 working union musicians.

"Nashville is Music City, and to fully leverage the brand, we certainly felt that an economic assessment of this magnitude was long overdue," said Mike Neal, president of the Nashville Area Chamber of Commerce.

Related News from Mi2N:
» Nashville's Music Industry Worth $6.38 Billion


Home » News Beat » Nashville's Music Industry Worth $6.38 Billion
Permalink:http://www.musicdish.com/mag/?id=10794
Email |Print |Comment |RSS

back | top


MusicDish Advertising Network

News Beat

» indieOn Connects Music to the Blockchain

» 13 Music Label Sold to MTN

» Darcus Beese Named President Of Island Records

» ASCAP Revenues Top $1.144 Billion In 2017

» BMG Appoints New Creative Directors In Nashville

News Beat Directory



» [2018-09-16] Live Nation Electronic Asia Inks Deal With Budweiser For Creamfields Festivals; Together, Creamfields And Budweiser Will Focus On Building Entirely New Content For Dedicated Electronic Music Fans Throughout Asia

» [2018-08-23] Andy Ma Appointed Warner Music China CEO; Andy Ma Has Also Been Appointed EVP, Commercial And Business Development For Greater China

» [2018-08-23] IndieOn Connects Music To The Blockchain; IndieOn Is Confident Of Creating A "music Miner" Who Listens More And Grow Their Token Value

» [2018-06-23] The 2018 MIDEM Silk Road International Music Alliance Signing; International Music Industries Signing Of A Mutual Resource Sharing Agreement With Shanghai Conservatory Of Music & The China Records Group

» [2018-06-06] Screen Music Connect To Explore The Music Of Film, Television And Interactive Media; Created By James Hannigan, Award-winning Composer And Game Music Connect Co-founder, Screen Music Connect Builds On The Success Of The Sold-out Game Music Conferences

» [2018-06-05] Fred Casimir To Develop BMG's Global Recordings Business; As Well As Building BMG's European Infrastructure, Casimir Was Instrumental In Developing BMG's Recordings Business

» [2018-06-03] 13 Music Label Sold To MTN; DSN Music Spins Off Record Label To Albuquerque Music Entrepreneur's New Group

» [2018-06-02] CISAC 2018 Annual Report; A Comprehensive Overview Of The Confederation's Work To Serve 4 Million Creators And 239 Authors Societies Across The World

» [2018-06-02] MusicDish Announces A Love Electric 2018 China Tour; The Tour Will Crisscross Through China With 12 Shows In 8 Cities, Including Guangzhou, Dongguan, Zhuhai, Shenzhen, Kunming, Jiaxin, Wuhan And Beijing

» [2018-06-02] Darcus Beese Named President Of Island Records; Renowned U.K. Music Executive To Join Universal Music Group's U.S. Label Leadership

» [2018-05-17] Avant-Garde Label Maybe Noise Launches In Beijing; The Official Launch Will Be On May 26 At Magnet Theater With A Performance Supporting Its First Vinyl Release: Png Z

» [2018-05-04] Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour; The Tour Will Kickoff In Shanghai Where The Band Will Represent Lithuania During The Country's Signing To The Silk Road Music Alliance
MusicDish Advertising Network

follow MusicDish on
Follow MusicDish on Twitter

Mi2N Music PR

Tony Carlucci & Dynamic Destony Releases New LP "A New Day"

Laura Angelini Makes Birthday World Event

Killer Tracks Delivers The Music For A NASA Moon Video

John Keenan Taking It To The Next Level

Royale - Playground (Single)

Make A Wish With Catherine Duc's 'Stargazing' Remix Of Ben Hobbs' 'Blind To You'

Asian Pop Queen Celest Releases Debut English Single/Video "I Got Him"



Websites: Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network
Services: Submit Article | Submit News | Submit Video | Artist Development | Premium PR Distribution

Copyright © 1997-2018 MusicDish LLC., all rights reserved.
About MusicDish e-Journal | Contact Us | Advertise | RSS | Internships