New Report Reveals Irish Music Industry Contributes Over €700m to Economy

IMRO CALLS FOR ESTABLISHMENT OF A NATIONAL MUSIC STRATEGY 

  • Report finds that the overall contribution of the music industry stands at €703 million
  • Employment in music industry stands at over 13,000

Music contributes more than €700 million to the Irish economy, according to a new report published today. The Socio-Economic Contribution of Music to the Irish Economy, commissioned by the Irish Music Rights Organisation (IMRO) and produced by Deloitte, sets out a number of recommendations to maximise the contribution of music in Ireland, including the development of a National Music Strategy. The report – an update on a Deloitte/IMRO 2015 analysis of the annual contribution made by the music industry to Ireland’s economy – was officially launched today by Eleanor McEvoy, singer/songwriter and Chair of IMRO; and musician and report ambassador Steve Wall.

The findings indicate a strong and growing music industry, which is contributing significantly to the economy and supporting more than 13,130 jobs. Based on the latest figures available, this updated report has found that the total contribution of the music industry, directly and indirectly, to the Irish economy is almost three-quarters of a billion euro annually – €703 million – including music-related consumer expenditure and supply-chain impacts. The report underlines the opportunity for further growth in the sector through the development of a National Music Strategy, rooted in four key action areas:

  • Coordination & collaboration through the establishment of a cross-Government music grouping to work with a cross sectoral Industry Advisory Panel to address barriers to growth in the sector;
  • Concentration on copyright to help ensure a fair return for music creators, crucial at a time when the music copyright landscape has changed utterly as a result of technology and the industry is under threat from the extremely low level of return to writers and performers, from platform services;
  • Creative skills development through advanced training and education services that will ensure musicians realise their potential, and that the ‘business of music’ is understood;
  • Compensation that is adequate to address income uncertainty associated with work in the creative and cultural industries – perhaps the single greatest barrier faced by entrepreneurs in the sector.

Based on sectorial analysis conducted by IMRO and Deloitte, the report was drafted in consultation with IMRO members and key music industry representatives, including artists and labels, publishers, songwriters, management companies, retailers and broadcast personnel. Unsurprisingly, the report also revealed that digital revenues (€16.3 million) surpassed physical revenues (€16.0 million) for the first time. However, growth in streaming revenues was particularly pronounced and overtook downloads for the first time.

Eleanor McEvoy, Chairperson of IMRO said, “Music is part of our national identity, our psyche, and our way of life. Beyond its important social and reputational contribution, however, music is a vital economic driver – both directly and indirectly. As Chairperson of IMRO, I am pleased to present this report and to further shine a light on our members’ contribution – those music creators who write and perform musical works – to Ireland’s economy. If we are to continue to maintain and grow the success of Ireland’s music industry, and increase its economic and social contribution, now is the time for the development of a National Music Strategy.”

Victor Finn, CEO of IMRO said “While the figures revealed in this report point to a successful and growing industry, further expansion is possible. IMRO believes that the establishment of a dedicated National Music Strategy would help to further develop Ireland’s indigenous music industry, boost growth in regional Ireland, support small businesses, and local economies.

“A focus on copyright should represent a core element of this National Music Strategy. An environment that fosters growth for new and legitimate businesses, including platforms such as YouTube, SoundCloud and Facebook, while providing legal certainty for consumers, and ensuring that this is paired with appropriate remuneration for creators, is needed. Ensuring creators receive compensation for all uploads of their work is crucial to ensuring a sustainable basis for the music industry going forward.”

Creators For Europe
report-cover-300x214
EY-Study
About IMRO
Our Board
Our People
Press Room
Research
Governance & Policy
Music Creators
Join IMRO
Members' Handbook
About Copyright
How do I Copyright a Piece of Music?
Copyright & Traditional Music
Muso Online Protection Solution
History of Performing Rights
FAQs on Copyright
Royalty Distribution Schedule
IMRO Distribution Policies
Competitions & Opportunities
Travel Grant Form
Irish Radio & Useful Contacts
Other Music Bodies in Ireland
Affinity Schemes
Music Creators FAQs
International Partners
Music Users
Do I Need a Licence?
Sign Up for a Music Licence
Pay Your Licence Online
Music Licences for Businesses
Cinemas
Hair & Beauty / Health / Waiting Rooms
Factories & Offices
Leisure, Sports, Social & Fitness
Functions & Other Events
Jukeboxes
Pubs & Bars
Restaurants & Hotels
Transport
Music on Hold
Retail
Music Licences for Live Events
Music Licences for Broadcast & Online
Music for TV Broadcast
IMRO TV Blanket Licence
MCPS TV Blanket Licence
Independent Production Company Licence
Secondary Exploitation / Programme Sales
Music for Radio Broadcast
Music for Online Music Use
Online Music Licences
General Entertainment On Demand (GEOD)
General Entertainment On Demand (GEOD) Licence Form
Performing Right Online Licence (PROL)
Performing Right Online Licence (PROL) Form
Music licences for Recorded Media
Production Music
Production Music Form
Individual Synchronisation (Sync) Rights
Music Licences for CDs & DVDs
AP2
AP2 Form
Covermount AP7
AP7 (CD) Form
AP7 (DVD) Form
Premium Products
DVD / AVP Licence (Audio-visual product)
Music Services B2B
Music Users FAQs
FAQs on Music Licensing
What’s Your Soundtrack Campaign
Supporting Music
IMRO Live Music Venue Awards
IMRO Tune-Up Your Business Award
IMRO Academy
IMRO Seminars & Workshops
IMRO Music for Film & TV
Other Voices
Sponsorship Applications
News
News Archive
Events
Contact Us

Login


Lost your password?

Password Recovery