Report Shows Irish Music Industry Contributed Nearly Half a Billion Euros to Economy

A new report by our Irish member IMRO shows that the Irish music industry contributes almost half a billion Euro to the economy and supports more than 11 500 jobs.

This report, produced by Deloitte and commissioned by the Irish Music Rights Organisation (IMRO), was launched recently by Minister for Arts, Heritage and the Gaeltacht Heather Humphreys TD and Irish singer-songwriters Brian Kennedy and Luan Parle.

Some key figures of the report are that the Irish music industry:

-          contributes over €470 mn to the economy

-          supports more than 11 510 jobs in Ireland (of which 9 030 are direct and 2 480 are indirect)

-          experienced a large fall in recorded music sales from €72 mn to €33 mn per year.

The report also outlines a number of recommendations, including:

  • The establishment of a Music Industry Taskforce, with representatives from Government, the business community and industry to help reinvigorate the sector and encourage collaboration;
  • Appointing an IP ‘Tsar’ to consider the impact of IP and copyright legislation and enforcement in both the music and technology industries;
  • The development of advanced training courses for music professionals to focus on ‘business of music’ education, particularly for early career musicians;
  • Establishing a Music Office – Music Ireland – to act as a focal point for the music industry, similar to the Irish Film Board. This office would provide assistance to individuals in the music sector and those looking to enter new overseas markets; Greater collaboration between the music, tourism, gaming and technology sectors;
  • Greater support for musicians, many of whom are self-employed, in accessing finance and ensuring that fiscal supports are effective and appropriately structured.

 

Read the full report here.

Published on 18 February 2015