As music and other creative industries continue to lobby for support from governments and policymakers to get through the Covid-19 pandemic, figures showing their importance to the wider economy are crucial.
Expect to hear a lot about a new Rebuilding Europe report by research firm EY, then – commissioned by the European Grouping of Societies of Authors and Composers (Gesac) as it quantifies the value of the cultural and creative industries (CCIs) in Europe.
The key stats: “With a turnover of €643 billion and a total added value of €253 billion in 2019, the core activities of the cultural and creative industries (CCIs) represented 4.4% of EU GDP in terms of total turnover,” claims the report. “Therefore, the economic contribution of CCIs is greater than that of telecommunications, high technology, pharmaceuticals or the automotive industry.”
There are some specific music stats too, including the most worrying: that estimated music turnover in the EU dropped by 76% between 2019 and 2020 as a result of the pandemic. You can read the full report here.
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