Strength in New Zealand’s music industry has been welcomed by Broadcasting Minister Amy Adams and Arts, Culture and Heritage Minister Maggie Barry.
PricewaterhouseCoopers’ New Zealand Music Industry Economic Report 2015 report found that the direct contribution to the economy was $245 million, up from $213 million in 2014.
“It’s incredibly encouraging to see such a positive year for the New Zealand music industry, with four out of five market segments recording increased growth rates,” says Ms Adams.
“In 2015, the industry directly employed 2259 full-time equivalent roles. This is up from 1754 in 2014.”
The report noted that total retail revenue grew through the doubling of consumption via online streaming - another example of digital convergence seen across the media sector.
Arts, Culture and Heritage Minister Maggie Barry says the contribution music is making to GDP and employment has shown a significant increase between 2014 and 2015.
“We know from the report that there has been a positive impact on the economy over the past three years,” says Ms Barry.
“We are committed to ensuring that support for the industry continues.”
The Government contributes $1.85 million to the New Zealand Music Commission whose work includes music education, domestic growth and export growth of New Zealand music and NZ On Air contributes approximately $4 million per year towards a range of music products.
“We recognise the rich contribution music makes to New Zealand culturally, economically and socially,” says Ms Barry.
The report was commissioned by Recorded Music NZ, APRA AMCOS and the New Zealand Music Commission with the support of NZ On Air, Te Māngai Pāho, Creative New Zealand, Independent Music NZ and the Music Managers Forum.
The full report can be found at: https://www.recordedmusic.co.nz/portfolio/nz-music-industry-economic-report/
Updated on 10th November 2016