New Jersey Musicians and Venues Add Over $2 Billion in Revenue To the GDP, Reports Website
So just how much do our musicians and artists in the Garden State contribute to the GDP? Would you believe $2.3 Billion?
According to a new website, “50 States of Music”–our New Jersey musicians–including Bruce Springsteen, Bon Jovi, and the late Frank Sinatra and Whitney Houston–add plenty to the nation’s bottom line through royalties and streaming, while our venues are just as vital.
“Music is everywhere and always with us in a 24/7 world that grows more digital every day,” the “50 States of Music” website introduction says. “And it’s in every stat — creating jobs, sustaining communities and boosting local economies from coast to coast.” Visit the website here and navigate all 50 states (Massachusetts adds a cool S$2.9 billion thanks to Aerosmith, Boston and the J Geils Band).
To put it in perspective, the music industry contributes $170 billion to the U.S.’s economy. It supports 2.47 million jobs, 1.45 million songwriters and over 230,000 music establishments.
In New Jersey, there are 40, 831 jobs with 5,908 music establishments combined. (the website has a full list that includes The Stone Pony, The Brighton Bar, The Saint, Count Basie Center for the Arts, PNC Bank Arts Center, Starland Ballroom, and more). According to SAG/AFTRA stats, there are 6,257 Royalty Recipients and $43,335 songwriters.
The website recognizes Sarah Vaughn, Whitney Houston, Bon Jovi and Bruce Springsteen for “putting it on the musical map” and points to “countless festivals, and events, and teeming with eager talent.
Other musicians lauded by the website: Frank Sinatra, Dionne Warwick, The Misfits, The Fugees, Ice-T, Lauryn Hill, Patti Smith and Paul Simon.
Put together by Hardin Bourke Entertainment, the collaborative effort includes figures provided by the American Association of Independent Music, ASCAP, BMI, Global Music Rights, the National Independent Venues Association, the National Music Publishers Association, the Recording Industry Association of America, SAG-AFTRA, SESAC and SoundExchange.