A turnover that is worth about 2 billion a year, despite the crisis of the entire economic sector caused by the pandemic emergency of the last two years. These are the numbers of music in Italy which is worth about 250 million as a discography, while live concerts are worth about 500 million a year, copyright is worth 200 million, while music between disco / dance is worth about 1 billion a year. year.
The report “Music that counts. Study on the value and economic status of the Italian music industry”, conducted by AFI Associazione Fonografici Italiani in collaboration with Deloitte and GFK, was presented to the Senate. With Covid there was a decline in revenues of -48.4%, while new publications grew by 15.3%, despite a drop in physical revenues of -23.7%. The incidence of revenues from live events and tours on the total was -9.6%, with a decrease of -2% on employees in the sector.
According to the research, 88% of Italians listen to music, with 38% of Italians listening to it often. Looking at the means used, 56% listen to the radio, 34% listen to streaming, with 30% using free streaming and 9% of Italians using paid streaming. 22% see music TV channels, while CDs and vinyls are worth 15% of the audience of Italians.
Looking specifically at independent music, it was underlined that this is widespread throughout the national territory, unlike the majors more concentrated in Milan. This means widespread economic value even in economically depressed areas, with independent labels worth 104 million in added value compared to the Italian GDP. “We must inform, we must remember the value of music which for forty years has not been considered by the institutions. Today, good politics means doing good economics and this study will be a working tool in which we will give the numbers from which politics will have to start. “declared Sergio Cerruti, AFI president.
.
Source From: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
