German music industry hugely significant

"The study shows impressively that music is of fundamental cultural importance and is an enormously important growth sector," said Carsten Brosda, Senator for Culture and Media. In 2023, the music industry generated turnover of around EUR 17.4 billion with a total of 156,000 employees. The gross value added amounted to EUR 6.6 billion, which exceeded the pre-pandemic level in 2019 with an 18 per cent growth in turnover, a 20 per cent increase in gross value added and - 4 per cent more people employed in the industry.

Companies in the sector are closely interlinked e.g., music events, recordings, publishers, musical instruments and collecting societies, which increases the economic relevance of the industry. Of the EUR 10.5 billion in prepayments in 2023, music companies received around 80 per cent or EUR 8.5 billion from companies in the industry. Entire industries are based on music products or would be unthinkable without them. Direct beneficiaries are industries such as tourism, broadcasting, technology and equipment. In 2023, these "spillover effects" came to EUR 28 billion. Indirect and induced effects generated another EUR 3.6 billion in gross value added for 36,000 jobs. 
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