You will be redirected back to your article in seconds

COPYRIGHTS: CASH COW

Report shows U.S. creative biz booming

U.S. core copyright industries grew twice as fast as the rest of the nation’s economy from 1987 to 1994, accounting for $255 billion in value and more than 3 million jobs, according to a study released Wednesday by the Intl. Intellectual Property Alliance.

In that same period, those “creative” industries — which include filmmaking, TV broadcasting, recording, publishing and software — grew 4.6% compared with 2.3% for the remaining sectors of the U.S. economy, according to the report prepared by Stephen Siwek and Gale Mosteller of Economists Inc.

The study “illustrates the enormous positive economic impact of the U.S. copyright industries,” Jack Valenti, president and CEO of the Motion Picture Assn. of America, said in a statement. “The critical importance of these industries on our nation’s economy is irrefutable.”

The core copyright industry — made up of those that create copyrighted works as their primary product — now accounts for 3.7% of the nation’s gross domestic product. In 1994, the copyright industry as a whole contributed $385 billion to the U.S. economy — 5.7% of the GDP.

Industry execs believe Congress should take a harder look at enforcing anti-piracy laws globally, particularly when considering ratification of the treaties adopted by the World Intellectual Property Organization Conference in Geneva in December. Copyright piracy costs U.S. creators $14 billion a year, according to the Recording Industry Assn. of America.

“This report hopefully will serve as a wake-up call to American policy-makers that we need to redouble our efforts to protect intellectual property both here and abroad, and to bring the same vigilance and commitment to fighting piracy in electronic media,” RIAA chairman and CEO Jay Berman said in a statement.

In 1995, the core copyright industries’ foreign sales totaled $53 billion, ahead of every export sector except the automobile and agriculture industries, according to the report.

Washington, D.C.-based IIPA is a U.S. coalition created in 1984 to improve bilateral and multilateral efforts to protect international copyright products.

More From Our Brands

Access exclusive content