Copyright industries engine of growth for US economy
November 3, 2011
By Colin Mann
According to a report commissioned by the International Intellectual Property Alliance (IIPA), in 2010 the US industries most dependent on copyright protection:
- Added over $930 billion in value to the U.S. economy, almost 6.4 per cent of the total GDP;
- Employed nearly 5.1 million US workers – nearly 5% of the total private employment sector – with jobs paying an average of 27 per cent more than the rest of the workforce; and
- Accounted for $134 billion in foreign sales and exports, far more than sectors such as aircraft, autos, and agriculture.
The study – Copyright Industries in the U.S. Economy: The 2011 Report – updates 12 previous studies tracking the economic impact and contributions of US industries creating, producing, and distributing theatrical films, TV programming, home video, DVDs, business software, entertainment software, books and journals, music and sound recordings.
“The 2011 edition of our study shows once again how significantly the US copyright industries contribute to US jobs, wages, economic growth, and international competitiveness,” said Steven J. Metalitz, IIPA. “The analyses released today, based on US government data, demonstrate the vibrancy of copyright and creativity as an engine for growth for the US economy. To preserve and enhance that vibrancy, we must ensure strong legal protection for US creativity, innovation, and ingenuity, both here and in the markets of our trading partners, in both the physical and online world. Strong and modern copyright laws that take into account changes in technology and the continuing harm caused by copyright theft, and vigorous enforcement of those laws, are critical ingredients in our national efforts to create and preserve good US jobs, reduce our persistent trade deficits, and foster durable economic growth.”