Creative Industries Add 1.2 Trillion to US Economy in 2015
Strong intellectual property protections are key to the growth and prosperity of the creative industries, especially publishing
A new report issued today highlights the importance of the creative industries, including publishing, to the U.S. economy. The report from the International Intellectual Property Alliance (IIPA) found that in 2015 the core copyright industries - which include book, newspaper and magazine publishing, music, computer gaming, television and film industries - contributed a record $1.2 trillion. The economic contribution accounts for 6.88% of the U.S. economy.
The core copyright industries employ 5.5 million workers; this figure doesn’t account for interdependent industries (like booksellers) or others who are dependent of the copyright industry purchasing their goods and services (like the paper industry.)
In addition to jobs, the exports from creative industries help boost the U.S. economy. Sales of products internationally were $177 billion in 2015, a significant increase over previous years. This surpasses the foreign sales of other major U.S. industries, including aerospace products and parts ($134.6 billion), agricultural products ($62.9 billion), and pharmaceuticals and medicines ($58.3 billion).
The data was issued at a bi-partisan press conference today which included key members of Congress:
- Congresswomen Marsha Blackburn, House Energy and Commerce Committee Vice Chair
- Congressman John Conyers, Jr. House Judiciary Committee Ranking Member
- Congressman Doug Collins, House Judiciary Committee Subcommittee on Courts, Intellectual Property, and the Internet Vice Chair, and Creative Caucus Co-Chair
- Congresswoman Judy Chu, House Judiciary Committee Subcommittee on Courts, Intellectual Property, and the Internet Member, and Creative Rights Caucus Co-Chair
- Congressman Ted Deutch, House Judiciary Committee Member
“Strong intellectual property protections are key to the growth and prosperity of the creative industries, especially publishing,” said Lui Simpson, Executive Director, International Enforcement and Trade Policy, AAP. “It is imperative that Congress continue to support copyright protections to help ensure that this critical segment of the U.S. economy continues to flourish.”
Click here for the "Copyright Industries in the U.S. Economy" report.