Making Music An Economy Everywhere
Launching a vision at the Global Citizen NOW Conference
Can music help eradicate global poverty? Maybe not on its own, but as part of a holistic strategy to create more diverse, sustainable economic options for as many people as possible everywhere, maybe.
Those who work in the music industry - mainly in OECD nations - often forget that music is not an industry in many countries. In fact, of the 195 United Nations member states, including many signatories to the Berne Convention (which says that the government commits to the protection of literary and artistic works), music is- in its most foundational sense- not an economy. It is part of daily life, in the foreground and background, but it is not earning the revenues it could be. This is sometimes forgotten when one lives in a place with a music industry and where those who create music or operate a business that involves it get paid.
I believe this is one of our greatest opportunities - to turn music into an economy everywhere. So, the Center for Music Ecosystems has partnered with Global Citizen and Universal Music Group - to address this.
In many countries, music has insufficient foundations and frameworks to contribute to a thriving local and national economy. In countries with regulatory inefficiencies, creators often “offshore” their intellectual property (IP) rights. This means registering their work elsewhere to avoid income loss. Unfortunately, this practice hinders potential tax revenue and GDP contribution. This inhibits music from being a tax generator and, therefore, a sector that deserves local, sustained investment.
This vision—presented today and live-streamed at the Global Citizen NOW conference—is our opening salvo to showcase this opportunity. Next, we will deliver research to demonstrate the potential economic value of music if there were systems for music to function as an economy in every country, supported by Universal Music Group and partners at the United Nations.
This is a flagship project for the Center for Music Ecosystems and a mission for me. The music copyright economy is valued at $41bn worldwide. That is every song ever written, everywhere. I believe music should be worth many more times what it is. And to me, this starts with getting the infrastructure right—copyright, education, policy, and place.
There is much more to come. This vision is an introduction—a start. Growing our sector benefits every musician, business, and artist. Equally important, it creates jobs, improves livelihoods, and can be done sustainably. The more we see music as a wider solutions provider, the more we can leverage it.
Let’s go…