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Music Has a $212 Billion Economic Impact in the U.S., Says New Study
Music's U.S. economic impact is $212 billion, says a new RIAA-led study for 2020. That was up from $180 billion in 2017.
In putting a dollar amount on the U.S. music industry, the report effectively underlines the stakes in failing to stave off the threat artificial intelligence (AI) poses to the business. A thorough study of music’s economic impact is important for an industry that frequently seeks lawmakers’ intervention against new technologies and threats to copyright. California, where music contributes $51.4 billion to the economy, has the largest impact of the 50 states in terms of earnings, employment and value added.
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