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Nashville Music Industry Overview

R.Dilara Cumhur
R.Dilara Cumhur

Nashville has this great brand and identity with music, but our goal as a Music Council is to take the local industry to the next level by attracting additional music companies, professionals and then ultimately, to develop new ideas that strengthen this global industry with Nashville as the worldwide headquarters of innovation and progress" said by Goodman. Density of music professionals in Nashville and the citys reputation for music to become the hub for music education and training, drive music-related policy and practices, and further cluster the trade of musical instruments and merchandise, as well as professional services that support music business. This presentation is an overview of the Nashville Music Industry and how triple bottom line business perspective will boost the success of the industry and sustain music business in the region. Pratt Institute - Money & Markets Group Final Project (2014) Credits: Emine Ar脹kan, Andres Gutierrez, Rabia Dilara Cumhur

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NASHVILLES MUSIC INDUSTRY E M I N E A R I K A N D I L A R A C U M H U R A N D R E S G U T I E R R E Z
M A R K E T O V E R V I E W TOP RANKING IN THE MUSIC INDUSTRY 1. USA 2. JAPAN 58% 3. UNITED KINGDOM 4. GERMANY 25.1 OF THE MARKET IN DIGITAL SALES IT TOTALED $2.60 BILLION 23.1 22.4 21.8 21.1 19.5 18.1 16.9 15.9 15.7 15.6 15 GLOBAL REVENUE OF THE MUSIC INDUSTRY FROM 2002 TO 2013 U.S. MUSIC INDUSTRY REVENUES 40% 35% 3% 21% 1% Source: RIAA Digital Downloads Physical SynchronizaMon SubscripMon & Streaming Ringtones & Ringbacks
I N D U S T R Y O V E R V I E W MUSIC IN THE US
N A S H V I L L E
H I S T O R Y 1950s MEDIA CENTERS WITH LONG HERITAGE DRIVEN BY THE CONCENTRATION OF SONGWRITERS AND PRODUCERS MUSIC ROW: THE HUB OF MUSIC PUBLISHING & LICENSING HIGH GLOBAL RECOGNITION CULTURAL CHARACTERISTICS HIGHLY PROFESSIONAL, VARIOUS SPECILIZATIONS & FESTIVALS
O V E R V I E W ENTERTAINMENT CLUSTER
T R E N D S & C O M P E T I T O R S
T R E N D S OTHER PLATFORMS CROWDSOURCING BRANDFUNDING MOBILE 360 DEAL ADVERTISING SPONSORSHIP VARIABLE PAY-MUSIC
C O M P E T I T I O R S 35 30 25 20 15 10 5 0 COMPARATIVE MUSIC INDUSTRY CLUSTER EMPLOYMENT NASHEVILLE L.A NEW YORK
C O M P E T I T O R S 160 140 120 100 80 60 40 20 0 COST OF DOING BUSSINES NASHVILLE L.A NEW YORK
R E G U L A T I O N S
I N D U S T R Y & R E G U L A T I O N S ROYALTIES MECH. PERF. SYHNC. 90 % to labels 10 to 14 times more to labels 50/50
I N D U S T R Y & R E G U L A T I O N S SONGWRITER EQUITY ACT AN ACT DESIGNED TO ENCOMPASS COMPOSERS AND PUBLISHERS TO EARN A FAIR COMPENSATION FOR THE USE OF THEIR INTELLECTUAL PROPERTY. THE ACT IS AIMING TO PUT MECHANICAL AND PERFORMANCE ROYALTY RATES IN LINE WITH FAIR MARKET RATES.
S U S T A I N A B I L I T Y & E C O N O M Y
CV S U S S T T A A I I N N T T A A B B I I L L I I T T Y Y & & E C E O C N O O N O M Y M Y 10 BILLION $ USD ANNUAL ECONOMIC IMPACT IN NASHVILLE REGION MUSIC INDUSTRY CLUSTER JOBS PER 1,000 WORKING-AGE POPULATION (AGE 20-64) BY METROPOLITAN AREA
O V E R V I E W $72,751 $35,072 $104,560 $[VALUE] $47,007 $74,992 $[VALUE] $44,850 $45,433 $46,725 $50,027 $150,000 $100,000 $50,000 $0 NASHVILLES MUSIC INDUSTRY GENERATED REVENUES 2012 Musical instrument Manufacturing Musical Instrument supply stores Compact disc, tape and record stores integrated record reproducMon Record reproducMon Music Publising Sound recording industries Radio Networks Radio StaMons Musical groups and arMst Other sound recording industries 4000 3000 2000 1000 0 NASHVILLES MUSIC INDUSTRY GENERATED JOBS 2012 jobs generated 2012 Musical instrument Manufacturing Musical Instrument supply stores Compact disc, tape and record stores integrated record reproducMon Record reproducMon Music Publising Sound recording industries Record Networks Radio StaMons Musical groups and arMst Other sound recording industries
S U S T A I N A B I L I T Y & E C O N O M Y NASHVILLES MUSIC INDUSTRY HELPS TO CREATE AND SUSTAIN MORE THAN 56,000 JOBS WITHIN THE NASHVILLE AREA LABOR/POPULATION IS HIGHEST IN COUNTRY, x10 MORE ACTIVITY AND x4 EMPLOYMENT COMPARED TO LA, NY. NASHVILLES MUSIC INDUSTRY CONTRIBUTES $10 BILLION TO THE LOCAL ECONOMY. $3.2 BILLION IS FROM LABOR FORCE.
CV S U S S T T A A I I N N T T A A B B I I L L I I T T Y Y & & E C E O C N O O N O M Y M Y -20% ENERGY -40% WATER 845 SOLAR PANELS 360.000 GALLONS RAINWATER GREEN ROOF
O P P O R T U N I T I E S
O P P O R T U N I T I E S NASHVILLE AS THE GLOBAL HEADQUARTERS OF INNOVATION AND PROGRESS IN MUSIC CAPITILIZE ON CHANGING DYNAMICS OF MUSIC MARKET AND CONSUMERS INVEST ON TECHNOLOGY OF MUSIC PRODUCTION NASHVILLE, AS THE CENTER OF MUSIC EDUCATION AND TRAINING REGULATE TRADE OF MUSICAL INSTRUMENTS AND MERCHANDISE REINFORCE MUSIC RELATED POLICY AND PRACTICES
THANK YOU

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Nashville Music Industry Overview

  • 1. NASHVILLES MUSIC INDUSTRY E M I N E A R I K A N D I L A R A C U M H U R A N D R E S G U T I E R R E Z
  • 2. M A R K E T O V E R V I E W TOP RANKING IN THE MUSIC INDUSTRY 1. USA 2. JAPAN 58% 3. UNITED KINGDOM 4. GERMANY 25.1 OF THE MARKET IN DIGITAL SALES IT TOTALED $2.60 BILLION 23.1 22.4 21.8 21.1 19.5 18.1 16.9 15.9 15.7 15.6 15 GLOBAL REVENUE OF THE MUSIC INDUSTRY FROM 2002 TO 2013 U.S. MUSIC INDUSTRY REVENUES 40% 35% 3% 21% 1% Source: RIAA Digital Downloads Physical SynchronizaMon SubscripMon & Streaming Ringtones & Ringbacks
  • 3. I N D U S T R Y O V E R V I E W MUSIC IN THE US
  • 4. N A S H V I L L E
  • 5. H I S T O R Y 1950s MEDIA CENTERS WITH LONG HERITAGE DRIVEN BY THE CONCENTRATION OF SONGWRITERS AND PRODUCERS MUSIC ROW: THE HUB OF MUSIC PUBLISHING & LICENSING HIGH GLOBAL RECOGNITION CULTURAL CHARACTERISTICS HIGHLY PROFESSIONAL, VARIOUS SPECILIZATIONS & FESTIVALS
  • 6. O V E R V I E W ENTERTAINMENT CLUSTER
  • 7. T R E N D S & C O M P E T I T O R S
  • 8. T R E N D S OTHER PLATFORMS CROWDSOURCING BRANDFUNDING MOBILE 360 DEAL ADVERTISING SPONSORSHIP VARIABLE PAY-MUSIC
  • 9. C O M P E T I T I O R S 35 30 25 20 15 10 5 0 COMPARATIVE MUSIC INDUSTRY CLUSTER EMPLOYMENT NASHEVILLE L.A NEW YORK
  • 10. C O M P E T I T O R S 160 140 120 100 80 60 40 20 0 COST OF DOING BUSSINES NASHVILLE L.A NEW YORK
  • 11. R E G U L A T I O N S
  • 12. I N D U S T R Y & R E G U L A T I O N S ROYALTIES MECH. PERF. SYHNC. 90 % to labels 10 to 14 times more to labels 50/50
  • 13. I N D U S T R Y & R E G U L A T I O N S SONGWRITER EQUITY ACT AN ACT DESIGNED TO ENCOMPASS COMPOSERS AND PUBLISHERS TO EARN A FAIR COMPENSATION FOR THE USE OF THEIR INTELLECTUAL PROPERTY. THE ACT IS AIMING TO PUT MECHANICAL AND PERFORMANCE ROYALTY RATES IN LINE WITH FAIR MARKET RATES.
  • 14. S U S T A I N A B I L I T Y & E C O N O M Y
  • 15. CV S U S S T T A A I I N N T T A A B B I I L L I I T T Y Y & & E C E O C N O O N O M Y M Y 10 BILLION $ USD ANNUAL ECONOMIC IMPACT IN NASHVILLE REGION MUSIC INDUSTRY CLUSTER JOBS PER 1,000 WORKING-AGE POPULATION (AGE 20-64) BY METROPOLITAN AREA
  • 16. O V E R V I E W $72,751 $35,072 $104,560 $[VALUE] $47,007 $74,992 $[VALUE] $44,850 $45,433 $46,725 $50,027 $150,000 $100,000 $50,000 $0 NASHVILLES MUSIC INDUSTRY GENERATED REVENUES 2012 Musical instrument Manufacturing Musical Instrument supply stores Compact disc, tape and record stores integrated record reproducMon Record reproducMon Music Publising Sound recording industries Radio Networks Radio StaMons Musical groups and arMst Other sound recording industries 4000 3000 2000 1000 0 NASHVILLES MUSIC INDUSTRY GENERATED JOBS 2012 jobs generated 2012 Musical instrument Manufacturing Musical Instrument supply stores Compact disc, tape and record stores integrated record reproducMon Record reproducMon Music Publising Sound recording industries Record Networks Radio StaMons Musical groups and arMst Other sound recording industries
  • 17. S U S T A I N A B I L I T Y & E C O N O M Y NASHVILLES MUSIC INDUSTRY HELPS TO CREATE AND SUSTAIN MORE THAN 56,000 JOBS WITHIN THE NASHVILLE AREA LABOR/POPULATION IS HIGHEST IN COUNTRY, x10 MORE ACTIVITY AND x4 EMPLOYMENT COMPARED TO LA, NY. NASHVILLES MUSIC INDUSTRY CONTRIBUTES $10 BILLION TO THE LOCAL ECONOMY. $3.2 BILLION IS FROM LABOR FORCE.
  • 18. CV S U S S T T A A I I N N T T A A B B I I L L I I T T Y Y & & E C E O C N O O N O M Y M Y -20% ENERGY -40% WATER 845 SOLAR PANELS 360.000 GALLONS RAINWATER GREEN ROOF
  • 19. O P P O R T U N I T I E S
  • 20. O P P O R T U N I T I E S NASHVILLE AS THE GLOBAL HEADQUARTERS OF INNOVATION AND PROGRESS IN MUSIC CAPITILIZE ON CHANGING DYNAMICS OF MUSIC MARKET AND CONSUMERS INVEST ON TECHNOLOGY OF MUSIC PRODUCTION NASHVILLE, AS THE CENTER OF MUSIC EDUCATION AND TRAINING REGULATE TRADE OF MUSICAL INSTRUMENTS AND MERCHANDISE REINFORCE MUSIC RELATED POLICY AND PRACTICES