Music Is Vital to NYC's Economy and Cultural Health - New Report

The New York City Mayor's Office of Media and Entertainment has just released a very detailed study of the music industry in NY. It's a slam dunk, and describes the size, scope and economic impact of music on our economy, as well as on the cultural health of our city and state. Some key findings include:

  • 60,000 music-related jobs
  • $5 billion in wages
  • total economic output of $21 billion

It's a detailed report and I'm still wading through it. So far, my favorite line is:

"...the city is a hub for the global record business precisely because of the presence of so much local talent. That talent, in turn, exists in large measure because of the communities, support services, and distribution channels that help develop new and emerging artists. A disruption in one pillar would impact the others, underscoring how critical it is to take a holistic view across all four pillars of the ecosystem.”

Talent = Music Creators (instrumentalists, songwriters, engineers, etc)

With this statement, the City is officially recognizing the vital importance of our musicians. This includes all of the 'emerging professionals' who move art forms forward, while just scraping by financially.

I'm heartened that the town that I love now has a music office in City Hall, and that they seem to truly value our community and industry.

However, against this backdrop of a strong industry there is an important sector that is hurting (namely, music production). Part of the driver is surely real estate prices. Studios are immensely expensive to start up and require infrastructure that is not easily moved when leases expire. There are other factors as well.

The City and State have a role to play here. This report gives us an important tool that we can use to continue make that case.