Tuesday, September 06, 2016

With Strong IP Protections, Film and TV Made $131 Billion in 2014

The Motion Picture Association of America (MPAA) announced new figures regarding the economic contribution of the motion picture and television industry to the United States economy. Here are some of the key findings regarding the industry’s economic contribution:
  • The industry contributed $131 billion in sales to the overall economy in 2014 (up 2% from 2013).
  • The industry supported 1.9 million jobs and $121 billion in total wages in 2014.
  • The industry is comprised of nearly 89,000 businesses in total, located in every state in the country. These are mainly small businesses; 84% employ fewer than 10 people.
  • The industry made over $41 billion in payments to more than 345,000 local businesses in 2014.
  • The industry generated $19.3 billion in public revenues in 2014 from sales taxes on goods, state income taxes, and federal taxes including income tax, unemployment, Medicare and Social Security, based on direct employment in the industry.
The motion picture and television industry’s contributions to the U.S. economy would not be possible without strong intellectual property (IP) rights protections. Although online piracy is still a huge problem that has the effect of destroying jobs and investment, despite this loss, Americans still benefit from hundreds of billions of dollars in economic activity generated by the motion picture and television industry.
Strong IP rights protections promote creativity, innovation, and investment by content creators and by artists and entrepreneurs throughout the entire economy. In the motion picture and television industry and other creative industries, consumers, ultimately, are the beneficiaries of such innovation and investment.