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…
Life insurance not included
Where in Detroit are these music industry businesses located?
Out by Eminem’s house
Can we get a link to the report of this study?
I live in Detroit, am in the music industry and this report is mindboggling. Also, who was interviewed for this survey?
Link to the full report: http://www.andersoneconomicgroup.com/Portals/0/AEG%20Report%20-%20Music%20Business%20in%20Detroit.pdf