A recent released report reveals that core copyright industries in the U.S. generated over $1.1 trillion dollars in economic output in 2013, accounting for 6.71% of the entire economy. The study, “Copyright Industries in the U.S. Economy: The 2014 Report,” also shows that the core copyright industries employed nearly 5.5 million workers in 2013, accounting for over 4% of the entire U.S. workforce, and nearly 5% of total private employment in the U.S. Representatives Judy Chu and Doug Collins welcome the report.

WASHINGTON - A new report reveals that core copyright industries in the U.S. generated over $1.1 trillion dollars of economic output in 2013, accounting for 6.71% of the entire economy. The study, Copyright Industries in the U.S. Economy: The 2014 Report, also details that the core copyright industries employed nearly 5.5 million workers in 2013, accounting for over 4% of the entire U.S. workforce, and nearly 5% of total private employment in the U.S. These workers earn on average 34% higher wages than other U.S. workers.

The study looks at the economic contribution of a wide array of industries that are principally responsible for the creation and distribution of copyright content that consumers enjoy every day including books, journals, music, movies, videogames, and software, among others

The report also shows that the core copyright industries continue to outpace the rest of the U.S. economy. The core copyright industries grew at a rate of 3.9% between 2009 and 2013, while the U.S. economy grew by 2.25%. When factoring in other industries that contribute to the copyright economy (which together make up the “total” copyright industries), the numbers are even more impressive. Finally, the report highlights the positive contribution of selected copyright sectors to the U.S. overall trade balance. In 2013, these sectors contributed $156 billion in foreign sales and exports, exceeding that of many other industry sectors. Please view the Infographic for more details on the report and the full report here.

“Employing more than 5.5 million people, our creative industries contributed more than a trillion dollars to our economy last year. This is a significant portion of our GDP, none of which would be possible without strong copyright protections. As co-chair of the Congressional Creative Rights Caucus, I am so proud of the talented minds and innovative workers that produce arts and entertainment admired around the world. We need to continue working to guarantee the protections necessary to help this industry continue to thrive,” said Congresswoman Judy Chu, co-chair of the Congressional Creative Rights Caucus.

Congressman Doug Collins, incoming co-chair of the Congressional Creative Rights Caucus, said, “Copyright is the foundation of innovation, and innovation is the force that drives our economy. This study confirms what creators know best, and what I’m committed to making sure Congress understands in the coming months.”

“Year after year, the Copyright Industries in the U.S. Economy reports track the direct contribution of copyright to our nation’s economic growth,” added Steven J. Metalitz, International Intellectual Property Alliance.

“The numbers clearly demonstrate what is at stake when it comes to devising sound copyright policy – namely, protecting the over $1.1 trillion in economic output, the millions of good and high-paying jobs, and the positive contribution to the U.S. trade balance arising from foreign sales and exports of our nation’s creative output. It is no understatement to say that the gains from the copyright industries ripple across our entire economy.”

Key economic figures about the core copyright industry in the U.S. released today:

· Contributed $1.1 trillion dollars in value added to U.S. GDP, accounting for 6.71% of the U.S. economy

· Employed nearly 5.5 million workers, accounting for 4.03% of the entire U.S. workforce, and nearly 4.81% of total private employment in the U.S.

· Compensated core copyright workers with an average annual wage of $87,860, a figure 34% higher than the U.S. average

· Grew at an aggregate annual rate of 3.9% between 2009 and 2013, more than 70% higher than that of the remainder of the U.S. economy, which grew 2.25% during the same period

· Contributed to the U.S. trade balance in 2013 through foreign sales and exports of $156.3 billion for select copyright sectors. This number exceeds foreign sales of major U.S. industries including: chemicals ($147.8 billion), aerospace products and parts ($128.3 billion), agriculture ($68.9 billion), and pharmaceuticals and medicines ($51.6 billion)

The study, Copyright Industries in the U.S. Economy: The 2014 Report, was prepared by Stephen E. Siwek of Economists Incorporated for the IIPA, and updates 14 previous studies. It is based on data from the Bureau of Economic Analysis and other government agencies and looks at copyright: 1) value added; 2) employment and compensation; 3) growth compared with the U.S. economy; and 4) foreign sales and exports.

For more information, contact: Steven Metalitz, Michael Schlesinger, Eric Schwartz, Amanda Wilson Denton: 202-355-7900

Formed in 1984, the IIPA is a private sector coalition of trade associations representing U.S. copyright based industries in bilateral and multilateral efforts working to improve international protection and enforcement of copyrighted materials and open up foreign markets closed by piracy and other market access barriers. IIPA’s six member associations represent over 3,200 U.S. companies producing and distributing materials protected by copyright laws throughout the world—all types of computer and video games for video game consoles, personal computers, and the Internet; theatrical films, television programs, DVDs and home video and digital representations of audiovisual works; music, records, CDs, and audiocassettes; and fiction and non-fiction books, education instructional and assessment materials, and professional and scholarly journals, databases and software in all formats. Visit www.iipa.com. Members of the IIPA includeAssociation of American Publishers, Entertainment Software Association, Independent Film & Television Alliance, Motion Picture Association of America,National Music Publishers’ Association, and Recording Industry Association of America. Read more about IIPA here.