Detroit may be going through bankruptcy, but their music industry seems to be doing pretty dang well.
Anderson Economic Group carried out a three month study for Crain’s Detroit Business titled Music Business in Detroit: Estimating the Size of the Music Industry in the Motor City. The study valued Detroit’s music industry at $1.15 billion.
Some interesting details were also discovered about their music industry:
- Employs more than 7,000 people
- Earnings totaled over $170 million
- People who work “music industry establishments” make an average of $27,000 a year
- Total revenue was $1.15 billion, this includes record sales and ticket revenue
Maybe they should rethink that “Motor City” moniker…