Study highlights importance of music industry in Hamburg
The Netzwerk Music Business e.V. recently presented Hamburg's music industry as a driving force of the regional economy in the Chamber of Commerce, a press release said Monday (October 9, 2023). The study was carried out by the Oxford Economics consultancy backed by the Ministry of Culture and Media and Hamburg-based music companies. It examined the share of local music companies in value creation, employment and tax revenue and in terms of Hamburg's gross domestic product. The effects on other economic sectors such as the tourism industry were analysed in 2019.
Pillar of economic success
"The study shows impressively the clout of the music industry in Hamburg," said Dr Carsten Brosda, Senator for Culture and Media. "The music industry has long been of utmost importance for Hamburg as a city of culture and also as a pillar of the city's economic success."
The music industry accounted for EUR 1.03 billion in gross value added in the Hamburg region in 2019. That figure corresponds to one sixth of the gross value added of the Port of Hamburg and one and a half times that of the local sports industry. Hamburg's music scene contributes about 20 per cent to the national music industry. It has generated EUR 591 million in revenue and provided over 16,000 jobs directly, indirectly and induced. The study also upheld Hamburg's importance as a music business city.
Hamburg tops music-city tourism ranking
"The music plays in Hamburg. The music industry radiates far beyond its own sector. It is a key factor of success for culture and tourism. Music companies make Hamburg diverse and attractive for national and international visitors," said Norbert Aust, President of the Chamber of Commerce. " Music-themed tours accounted for around 13 per cent of overnight stays in Hamburg in 2019 and led to spending of EUR 914 million putting Hamburg ahead of Berlin and Munich.