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Creative Industries

Music sector contributed $212bn to US GDP in 2020, up from $179bn in 2017 — report

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The contribution of the music industry to the US gross domestic product (GDP) jumped from $179 billion in 2017 to $212bn in 2020, with an annual growth rate of 5.7%, and accounted for 0.89% of the country's GDP.
The sector accounted for 2.5 million jobs in 2020, as music industry employment grew 1.9% between 2017-2021. Direct employment increased from 1.127 million in 2017 to 1.318 million in 2020, while indirect/induced employment grew to 1.222 million in 2020.

(Source: Secretariat/RIAA)
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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Copyright & Regulation

Hollywood prepares for more consolidation as Paramount outbids Netflix to acquire Warner Bros. Discovery

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Who will eventually acquire Warner Bros. Discovery? The film has now more twists than your average Hollywood movie. In a first sequence, Netflix won an initial $82.7 billion bid for the company, approved by both WBD's management and board, setting in motion a wave of reactions, including from President Donald Trump.
But Paramount, which was also bidding for WBD, has mounted a hostile takeover of WBD, offering $30 a share for WBD, in an all-cash transaction valuing the company at $108bn, in a pro...

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Creative Industries

Warner Music India starts a strategic partnership with Rthyms.Life

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Warner Music India has sealed a strategic partnership with Rthyms.Life, a creator-first music company, that will see the two companies "work together to support artists representing a new sound of independence, culturally rooted, globally resonant, and creatively free."
Headquartered in India and Dubai, Rthyms.Life represents artists such as Guru Randhawa, Savi Kahlon, Sardar Khehra, Aastha Gill, Zehr Vibe, Guri, Youngveer, Aaryan Bidada, Bob.B Randhawa, and Siroyi. Warner Music India will provi...

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Creative Industries

ORCA report finds indie labels generate ‘tangible value and income for artists’

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A report based on data from nine prominent independent labels found that independent recorded music companies generate "tangible value and income for artists through long-term partnerships and investment." In 2023, the participating labels generated $239 million in revenue, with 33.5% ($79.9m) distributed to artists. That investment supported the careers of 569 artists across genres and geographies.
The report, 'The Economic and Social Impact of Independent Record Labels', commissioned by global...

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