Music NB has released an economic impact study of the New Brunswick music industry, including a sector profile and strategic recommendations for the industry going forward. The study, completed by Nordicity, builds upon a 2004 report and provides up to date information on the industry which has experienced significant changes over the last decade.
The study highlights the economic aspect of New Brunswick’s music industry which accounts for $65.2 million in GDP and contributes $19.6 million in tax revenues to all levels of government. The province’s music industry has also experienced an estimated 284 percent increase in revenues over the last decade, increasing from $19.9 million in 2003 to $76.5 million in 2013.
“This study will help us as an organization to better see the needs of our industry,” said Jean Surette, executive director of Music NB, in an interview with The Aquinian. “The music industry can be an economic engine to development.”
The findings of the report suggest that there are opportunities going forward for the music community and policy makers in New Brunswick to build links and work more closely. It is recommended that music industry education, identified as one of the province’s strengths, continue to be supported.
The full report is now available for download at http://www.musicnb.org/sound-impact-industry-study.