Washington, DC (November 20, 2013)—According to a new study from the International Intellectual Property Alliance (IIPA), in 2012, the core copyright industries added over $1 trillion in value to the United States’ economy year for the first time.
The IIPA study tracks the economic impact and contributions of U.S. industries creating, producing, distributing, broadcasting or exhibiting copyright materials, including computer software, videogames, books, newspapers, periodicals and journals, motion pictures, music, and radio and television programming.
In other key findings for 2012, the study concluded that the core copyright industries employed nearly 5.4 million U.S. workers—nearly 5% of the total private employment sector—with jobs paying an average of 33% more than the rest of the workforce. The industrial sector grew at an aggregate annual rate of 4.7%, more than twice the rate of growth for the U.S. economy, and accounted for $142 billion in foreign sales and exports—far more than sectors such as aerospace, agriculture, food, and pharmaceuticals and medicines.
In 2012, the value added by the core copyright industries to US GDP exceeded $1 trillion dollars, accounting for nearly 6.5% of the U.S. economy. The value added by the total copyright industries to GDP exceeded $1.7 trillion dollars, accounting for 11.25% of the US economy. (Total copyright industries include those which are “partial copyright,” “non-dedicated support” and “interdependent industries.”)
The annual 2012 compensation paid to core copyright workers—$85,644—far exceeds the average annual compensation paid to all US workers—$64,594—amounting to a 33% “compensation premium” over the average US annual wage. The total copyright industries employed more than 11.1 million workers in 2012, accounting for 8.35% of all US employment, or 10% (9.99%) of all private employment in the United States. The average annual compensation paid to employees of the total copyright industries in 2012, $75,926, exceeds the US average annual wage by 18%.
International Intellectual Property Alliance
Read the full report: www.iipa.com/pdf/2013_Copyright_Industries_Full_Report.PDF