For NYC, Music is Big Business: Commissioner Julie Menin introduces the new economic impact study at Brooklyn Bowl
On Monday morning, the Brooklyn Chamber of Commerce hosted a special neighborhood edition of Brooklyn Newsmakers event series welcoming Commissioner Julie Menin to Brooklyn Bowl. And really, what better venue in which to introduce an economic impact study of Music in New York City?
This study, conducted by Boston Consulting Group, is the first of its kind, and its results are staggering. In short, the music industry in NYC supports nearly 60,000 jobs, accounts for $5 billion in wages and generates $21 billion in total economic output for the city.
In 2015, NYC concert tickets accounted for $5.4 million, which is more than Los Angeles, San Francisco and Chicago combined. Furthermore, the study found that NYC is a hub for music tech, with more than 70 digital music startups, more than Los Angeles and San Francisco combined.