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The Economic and Social Impact of Music in Ireland

30 January 2018

The Department of Creative Arts, Media and Music Visiting Guest Series continues Thursday 1 February 2018 2pm in P1080, Carroll Building, where we welcome Michael McMahon, senior at Deloitte. He will be giving a talk titled 'The Economic and Social Impact of Music in Ireland'. The talk will discuss the work Deloitte has done with IMRO to look at the economic and social impact of music in Ireland. 



The Socio-Economic Contribution of Music to the Irish Economy, commissioned by the Irish Music Rights Organisation (IMRO) and produced by Deloitte, sets out a number of recommendations to maximise the contribution of music in Ireland, including the development of a National Music Strategy. The report – an update on a Deloitte/IMRO 2015 analysis of the annual contribution made by the music industry to Ireland’s economy - indicates a strong and growing music industry which is contributing significantly to the economy and supporting more than 13,130 jobs and contributing more thatn €700 million to the Irish economy.

The Socio-Economic Contribution of Music to the Irish Economy, commissioned by the Irish Music Rights Organisation (IMRO) and produced by Deloitte, sets out a number of recommendations to maximise the contribution of music in Ireland, including the development of a National Music Strategy. The report – an update on a Deloitte/IMRO 2015 analysis of the annual contribution made by the music industry to Ireland’s economy - indicates a strong and growing music industry which is contributing significantly to the economy and supporting more than 13,130 jobs and contributing more thatn €700 million to the Irish economy

According to IMRO, 'The findings indicate a strong and growing music industry. The report underlines the opportunity for further growth in the sector through the development of a National Music Strategy, rooted in four key action areas:

 Coordination & collaboration through the establishment of a cross-Government music grouping to work with a cross sectoral Industry Advisory Panel to address barriers to growth in the sector;

Concentration on copyright to help ensure a fair return for music creators, crucial at a time when the music copyright landscape has changed utterly as a result of technology and the industry is under threat from the extremely low level of return to writers and performers, from platform services;
Creative skills development through advanced training and education services that will ensure musicians realise their potential, and that the ‘business of music’ is understood;
Compensation that is adequate to address income uncertainty associated with work in the creative and cultural industries – perhaps the single greatest barrier faced by entrepreneurs in the sector.

Based on sectorial analysis conducted by IMRO and Deloitte, the report was drafted in consultation with IMRO members and key music industry representatives, including artists and labels, publishers, songwriters, management companies, retailers and broadcast personnel.'

(Source https://www.imro.ie/featured-article/new-report-reveals-irish-music-indu...)