The United States has spent more on its music industry than any nation on earth, according to an annual analysis of data from the Recording Industry Association of America.US spending on recording and production is higher than that of any other major economy, the report said.
Australia is second, at $2.5 trillion, followed by Japan with $1.8 trillion, with Germany, France and the UK trailing behind with $2 trillion.US spend on music is on track to be the biggest of all the major economies, and is the fourth largest in the world, behind China and the United Kingdom, the RIAA said.
“This is one of the greatest stories of our time,” said Michael Ochsner, CEO of RIAa, in a statement.
“The United States, for the first time, is taking an active role in helping to shape the global musical landscape.”
The RIAAA’s annual Global Music Industry Survey tracks spending on music and entertainment in over 80 countries.
It is based on information from the United Nations Economic Commission for Europe, the Organisation for Economic Cooperation and Development, and other sources.
In the United States spending on entertainment and music has surpassed the rest of the world in the past year, the survey found.
The average US household spent $6,000 on music in 2015, up from $5,000 in 2014, and the survey said this was the first year in which households spent more than $5 billion on music.
“America is a big country, but there are more than 1.2 billion Americans, and this report reveals a remarkable disparity between what Americans are spending on the entertainment and the music industries,” Ochesner said.
The Riaaa also revealed that in 2016 the US was spending more than any country in the OECD, and its spending on both music and music production was $3,700 per person per day, the highest of any country.
The survey found that in 2015 the average US music industry worker made $72,000, compared to $54,000 for China and $39,000 per person for Japan.