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Copyright industries significant contributor to Australian economy

A report from the Australian Copyright Council (ACC) on the Economic Contribution of Australian Copyright Industries 2002-2014 commissioned from PwC suggests that in the most recent year for which data was available (2014), copyright industries make a significant contribution to the Australian economy, with the sector:

* Employing just over 1 million people (specifically, 1,000,167 people), which constituted 8.7 per cent of the Australian workforce.
* Generating economic value of A$111.4 billion, the equivalent of 7.1 per cent of gross domestic product (GDP).
* Generating just over A$4.8 billion in exports, equal to 1.8 per cent of total exports.

ACC Chair, Professor Michael Fraser AM, noted that since the last study in 2011, copyright industries have moved from the seventh biggest industry in the Australian economy to the fourth biggest. “It is important to appreciate that while the focus of this report is on the economic activity which relies on the institutional support provided by copyright law, there are a range of cultural and social benefits that flow from the creation of copyright protected material that are not captured in the reported figures. Original and distinctive creative expression in the arts, games and beyond in new fields of creativity are an important part of Australian life,” he stated.

“In this changing and challenging environment it is good to see copyright industries continuing to make an important contribution to Australian cultural and economic prosperity,” observed Fiona Phillips, Executive Director of the ACC.

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