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DiMA: Streaming Industry Positively Impacts U.S. Economy.

Music streaming contributed $14.32 billion to the U.S. GDP (Gross Domestic Product) in 2021, an amount similar to the annual GDP contributions of Santa Cruz County, CA ($15B) and Alexandria, VA ($13B).

This is one of the key findings revealed in “An Economic Analysis on the Impact of Digital Streaming,” a study the Digital Media Association (DiMA) released that was conducted by Secretariat Economists. The study offers an analysis of the impact music streaming is having on workers and businesses across the U.S. economy.

The study found that for every $1 in economic value generated by streaming music, other sectors of the economy gain an additional $1.65. It also reveals that job growth powered by streaming isn’t limited to music or technology occupations and it has been growing at an annual rate of 20%. Additionally, for every job directly created in music streaming, other sectors of the U.S. economy gain nine additional jobs.

In 2021, digital music streaming supported more than 92,000 total jobs. In 2020, 8.82% of revenue from streaming services went to research and development. This was more than twice the investment level of the average industry.

“This study offers new insights on the success of digital streaming, for not only the music industry, but the U.S. economy and workers across many different occupations,” said DiMA CEO Garrett Levin. “While streaming is frequently recognized for its contributions to recorded music revenues and its innovations in delivering music to fans, it is less frequently recognized as a catalyst for broader economic growth and over 92,000 U.S. jobs.”

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