[[{“value”:”Industry Jobs Enhance Culture + Bolster $212B into the US Economy Music’s impact is most often seen through culture, connection,… Read More »
The post 50 States: Music’s Stake In Local Communities appeared first on RIAA.”}]]

Market Jobs Enhance Culture + Strengthen $212B into the United States Economy

Music’s effect is frequently translucented culture, connection, and the effective feelings it stirs. However brand-new research study from Secretariat Handling Director Robert Stoner and Director Jéssica Dutra explains the substantial monetary advantages music drives in neighborhoods all throughout America.

According to this brand-new report showing information supplied by independent labels, carrying out rights companies, independent locations, music museums and other companies throughout the United States, the music market is an effective chauffeur of United States financial success and development that contributes $212 billion to the GDP ( 5.7% every year from 2017-2020) and represent 2.5 million tasks. The report’s comprehensive state-by-state breakdown supplies an even sharper window into how documented music is a financial engine rippling through the wider environment from locations, celebrations, brick-and-mortar shops, digital platforms to artists, songwriters and music schools, to name a few. Check Out The United States Music Industries– Jobs & & Advantages: The 2024 Report here * + Check out each state here

The leading 6 states for each of the pertinent steps (incomes, work, and worth included) are: California, Florida, New York City, Pennsylvania, Tennessee and Texas.

• California: music contributed more than $51.4 B as fans gathered from Coachella to the Troubadour– simply 2 of the significant 80,433 music facilities– and 416,802 trainees broadened their skills throughout the state
• Florida: Latin, Pop and Southern Rock sustain the scene that supports 169,706 tasks and includes $9.3 B to the United States GDP
• New York City: the birth place of Hip-Hop created $24.9 B in music market worth in 2020, leading to 1.3 x the rate that music adds to United States GDP and including 210,878 tasks to the marketplace
• Pennsylvania: with 114,731 tasks supported and 6,715 royalty receivers, the state brings $6.3 B to United States GDP
• Tennessee: home to 74,289 songwriters in Nashville, Memphis and cities in between, music markets struck $7.5 B and contributed almost two times as much to the state’s GDP (1.7%) as the nationwide average (0.9%)
• Texas: beyond the Austin City Limits, this melting pot hosts 127,993 songwriters and pumps $26.6 B into the economy

With the biggest music economy on the planet, and accounting for more than a 3rd of the world’s documented music profits **, this research study even more exhibits how regional economies contribute in the wider context. Noteworthy findings consist of:

• Music market work grew 1.9% in between 2017-2021, compared to United States work development that remained consistent for the exact same duration.
• Direct work increased from 1.127 million in 2017 to 1.318 million in 2020. Indirect/Induced work grew to 1.222 million in 2020.
• Direct incomes increased from $39.9 billion in 2017 to $46.3 billion in 2020, while Indirect/Induced incomes increased to $63 billion in 2020.

This report utilizes the most recent combined information readily available at this scale and covers durations both before and after the beginning of COVID in March of 2020. While there is much better understanding of pandemic impacts, “it is still hard to completely comprehend or determine the myriad of effects it had on the economy broadly and the music market particularly. For instance, we have actually currently seen the live music market practically closed down in 2020 however more just recently go back to pre-pandemic levels.” The music markets continue to develop to satisfy customer requirements and innovate even in unforeseen scenarios.

More just recently the progressively digitalized world and quick AI advancement indicates the music market’s contribution to the digital economy is not restricted just to streaming. At mid-year 2024, RIAA reported tape-recorded music profits grew by 4% to $8.7 billion in approximated retail worth and showed the greatest variety of sources to date as fans continue to find and listen to music in more methods than ever. The series of services from health and physical fitness apps to podcasts, video gaming, and untouched methods will just broaden in the age of AI as human developers innovate utilizing accountable tech.

Yet the vigor of live music is still high and plays a popular function coast-to-coast. For instance, Live Country struck another record-setting H1 2024 with overall income growing 12% to $9.8 billion, variety of occasions growing 16.9% to 25,881 and the variety of fans at their shows and celebrations increasing 10.4% to 61.8 million (source: Signboard) while Luminate reported Gen Z investing more than others in Q2 2024 with approximately $38 monthly. The cravings for music gain access to in all types is clear, and the financial effect extensive.

RIAA Chairman & & CEO Mitch Glazier provides extra point of view on the report here

# # #

* This research study was performed utilizing Census Bureau, Bureau of Economic Analysis, and private-sector datasets covering numerous markets– using a macroeconomic analysis to figure out music’s direct financial and work effects and after that a downstream RIMS II multiplier design to catch the amount created by the American music market.

** As kept in mind from the IFPI Global Music Report, 2024

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[[{“value”:”RIAA Chairman & CEO Mitch Glazier surprised music icon Randy Travis with a plaque commemorating 23 million certified units.
The post Randy Travis Receives Career Plaque Commemorating 23 Million Certified Units from RIAA Chairman & CEO Mitch Glazier at MONDO.NYC appeared first on RIAA.”}]]

Picture Credit: Mike Shaw, Mondo.NYC
Picture ID (L to R): RIAA’s Mitch Glazier, Randy Travis and Mary Travis

NEW YORK CITY, N.Y. (October 17, 2024)– On Wednesday afternoon, RIAA Chairman & & CEO Mitch Glazier shocked music icon Randy Travis with a plaque honoring 23 million licensed systems throughout his famous profession and highlighting his leading album, 5x Platinum Always & & Forever The discussion occurred throughout Mondo.NYC following a keynote interview, where Glazier talked to Randy and his partner Mary about the AI innovation utilized to recreate his own voice for his most recent single “Where That Originated from” in addition to needed defenses for artists and songwriters around dishonest AI practices, consisting of the bipartisan NO FAKES Act– a costs that would safeguard a person’s voice and similarity from AI deepfakes and unapproved usage of digital reproductions. The couple have actually ended up being leaders in promoting for developers’ rights, likewise just recently affirming to Congress in Washington D.C. about the American Music Fairness Act and getting the Music Fairness Award from SoundExchange in September.

” Randy Travis is a legend whose immediately identifiable baritone has actually affected generations of fans. As he utilizes his voice and accountable AI innovation to develop brand-new music with Warner Music Nashville, Randy and partner Mary have actually likewise ended up being supporters for developing guardrails that safeguard artists and songwriters’ rights as they utilize brand-new ingenious tools. The RIAA is honored to commemorate Randy and present this profession plaque honoring over 23 million licensed systems, consisting of the 5x Platinum album Always & & Forever! “stated Mitch Glazier, Chairman & & CEO of RIAA.

” It was a fantastic present to deal with Mitch Glazier, and his whole RIAA group, as a part of the Mondo lineup this year, concerning AI and its effect on the music market. It provided me a better understanding of all the everyday effort and ‘behind the scenes’ efforts that happen to support the business and essential data of our artististic neighborhood. At the conclusion of our panel, and to my overall surprise, Mitch and Jackie Jones, provided me with a cherished plaque honoring the years of doing what I enjoyed doing the majority of. I am so grateful for the chance to live and find out more about the foundations of our market, in an effort to make the futures of tomorrow’s artists a little more vibrant. Our inmost appreciation for taking such excellent care of our music household, Mitch!” stated Randy Travis.

Travis is a titan of c and w– a “Mt. Rushmore of C and w” figure for numerous artists who have actually stood in his steps. His music continues to resonate with today’s listeners simply as it did when he initially struck the airwaves in 1986. His most current RIAA accreditation shows that withstanding effect– 2002 single “3 Wood Crosses” made Platinum (one million sales) in July 2024. His signature sophomore album– the astonishing 5x Platinum Always & & Forever(* )– functions 2x Platinum single “Permanently and Ever, Amen” while Travis’ launching genre-altering album Storms of Life is 3x Platinum and sits together with 2 2x Platinum, 4 Platinum and 4 Gold albums, in addition to many single accreditations. Check out all of his RIAA accreditations here Travis set and preserved lots of sales peaks– like the most weeks at No. 1 of any nation album– that have actually just been beaten by names like Garth Brooks, Shania Twain, and more just recently, Taylor Swift, Luke Combs and Morgan Wallen. In 2025, fans can capture him on the roadway with singer James Dupré for the More Life Trip, a musical event of Randy Travis with his initial band and all of the hits.

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Randy Travis Gets Profession Plaque Celebrating 23 Million Licensed Systems from RIAA Chairman & & CEO Mitch Glazier at MONDO.NYC appeared initially on RIAA FlipsideMediaET Tampa Bay Music • Live Music & & Music News “Whatever Music”

[[{“value”:”Please scroll down to read the Spanish language version of this report below. / Por favor, desplácese hacia abajo para… Read More »
The post RIAA Mid-Year 2024 US Latin Music Revenue Report / Informe Semestral De Ingresos De La Música Latina En EE. UU. Según RIAA 2024 appeared first on RIAA.”}]]

Please scroll down to check out the Spanish language variation of this report listed below./ Por favor, desplácese hacia abajo para leer nuestra traducción en Español.

Continuing to surpass the currently strong development in general documented music markets, Latin music income in the United States grew 7% to a record high $685 million. Fans stay engaged on streaming services throughout both paid and fast-growing, ad-supported choices.

READ THE FULL REPORT IN ENGLISH HERE

En una continua superación del ya fuerte crecimiento en los mercados generales de música grabada, los ingresos de la música latina en los EE.UU. crecieron un 7% a un récord de $685 millones de dólares. Los fans siguen activos en los servicios de streaming en todas las opciones, tanto en opciones de pago como en las de rápido crecimiento respaldadas por anuncios.

ENLACE EL INFORME COMPLETO EN ESPAÑOL AQUÍ

The post RIAA Mid-Year 2024 United States Latin Music Earnings Report/ Informe Semestral De Ingresos De La Música Latina En EE. UU. Según RIAA 2024 appeared initially on RIAA

FlipsideMediaET Tampa Bay Music • Live Music & & Music News “Whatever Music”