Home > Economy > Irish music industry supports 11.5k jobs

Irish music industry supports 11.5k jobs

Written by Business World, on 18th Feb 2015. Posted in Economy

article headlineIreland's music industry supports 11,500 jobs and contributes around E500m a year to the economy, according to a new report produced by Deloitte and commissioned by the Irish Music Rights Organisation (IMRO). It concluded that there are significant job creation, export, commercial and educational opportunities to be opened up for Ireland's indigenous music industry if the right support structures can be put in place. The Socio-Economic Contribution of Music to the Irish Economy report was launched by Minister for Arts, Heritage and the Gaeltacht Heather Humphreys and Irish singer-songwriters Brian Kennedy and Luan Parle. Based on sectoral analysis, the survey found that the Irish music industry contributes over E470 million to the economy and supports more than 11,510 jobs in Ireland - 9,030 direct, 2,480 indirect. In addition, while digital sales in Ireland have grown significantly, latest figures show that in the four years to 2012, recorded music sales fell by almost E40 million from E72 million to E33 million per annum. A survey of IMRO members and consultations with key music industry representatives - including artists and labels, publishers, songwriters, management companies, retail and broadcast personnel - highlighted a number of concerns relating to finance, market access, intellectual property, education and training and collaboration. The industry wants a Music Industry Taskforce, with representatives from Government, the business community and industry to help reinvigorate the sector and encourage collaboration and the appointing an IP 'Tsar' to consider the impact of IP and copyright legislation and enforcement in both the music and technology industries. It's looking for the development of advanced training courses for music professionals to focus on 'business of music' education, particularly for early career musicians and the establishment of 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; Keith Donald, Chair of IMRO said, "We are at an exciting juncture for Irish music and now is the time to ascertain how we can support, grow and reinvigorate the industry. The sector delivers significantly for Irish society and the economy, maintaining and creating thousands of jobs. Collaboration amongst Government, industry and music creators themselves will help the sector to adapt to new challenges, grasp new opportunities and help it to reach its full potential." For more visit www.businessworld.ie

More articles from Economy

image Description

Tax cuts will limit Irish resilience to future economic shocks warns NERI

Read more
image Description

Moody's upgrades Ireland's sovereign credit rating

Read more
image Description

Ireland to repay last of IMF bailout loans to cut interest bill

Read more