a 2 i m

NYC MOME First-Ever Music Industry Economic Impact Study

Mayor Bill de Blasio and Media and Entertainment Commissioner Julie Menin announced the results of the first-ever economic impact study of New York City’s music industry. The study, conducted by Boston Consulting Group, found that the sector supports nearly 60,000 jobs, accounts for $5 billion in wages, and generates $21 billion in total economic output for the city. The sector is growing faster than the rest of the local economy: music-related jobs and wages are growing at annual rates of 4 and 7 percent respectively, as compared to 3 and 5 percent in the City overall. The report establishes New York as one of the largest—if not the largest—music ecosystems in the world.

Read the full press release and study here.

“This vital study by the Mayor’s office of Media and Entertainment establishes music’s massive impact on our city’s economy,” said Richard Burgess, CEO of A2IM (American Association of Independent Music). “While the economic impact is essential, there are also New York City’s undeniable cultural contributions to the world through musical genres that evolved here and ultimately developed into cultural movements. A small sample of these would include hip-hop, doo-wop, bebop, Latin jazz, and the folk revival movement of the late ‘50s and early ‘60s. A2IM offers kudos to MOME for adding music to its portfolio and for embarking on a plan to recognize, support, and revitalize New York’s unique music community.”

About A2IM:
A2IM is a 501(c)(6) not-for-profit trade organization headquartered in New York City that exists to support and strengthen the independent recorded music sector. Membership currently includes a broad coalition of more than 700 Independently-owned American music labels. A2IM represents these independently owned small and medium-sized enterprises’ (SMEs) interests in the marketplace, in the media, on Capitol Hill, and as part of the global music community. In doing so, it supports a key segment of America’s creative class that represents America’s diverse musical cultural heritage. Billboard Magazine identified the Independent music label sector as 37.32 percent of the music industry’s U.S. recorded music sales market in 2016 based on copyright ownership, making Independent labels collectively the largest music industry sector.

Learn more about A2IM here.
For information about how to join our community, see here.