Recorded Music NZ has released the 2018 Economic Contribution of the Music Industry report. The report was commissioned by Recorded Music NZ with the support of APRA AMCOS and The NZ Music Commission and conducted by PWC.
2018 was another successful year, building on 2017’s strong results. The report reveals that the New Zealand music industry contributed $731 million to New Zealand’s GDP via indirect effects, and directly employed around 3,000 people in full time equivalent jobs (FTEs) in 2018. The significant increase in annual economic contribution was primarily driven by a good year for live music, as well as continued growth in streaming revenues.
A separate report details the estimation for 2018 of overseas earnings of NZ musicians, based on sample data collected by the industry. This is revenue earned outside New Zealand for live performances overseas, and recordings and publishing overseas. The estimated annual earnings over the period 2016 to 2018 are $38 million, generating a total GDP contribution of $53 million via indirect effects.