Total Revenue for Sound Recording Studios, All Establishments, Employer Firms
REVEF51224ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,423.00
Year-over-Year Change
67.81%
Date Range
1/1/2002 - 1/1/2022
Summary
This economic trend measures the total revenue generated by sound recording studios, a key indicator of the music industry's performance. Understanding this metric is crucial for policymakers and industry analysts to gauge the overall health and growth of the audio recording sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Total Revenue for Sound Recording Studios, All Establishments, Employer Firms series tracks the cumulative revenue earned by commercial sound recording studios, which provide services such as audio recording, mixing, and mastering. This data helps monitor the music industry's economic activity and can inform decision-making around policies, investments, and market strategies.
Methodology
The data is collected by the U.S. Census Bureau through surveys of employer firms in the sound recording studios industry.
Historical Context
Policymakers and industry stakeholders use this trend to assess the financial state of the music production sector and its contribution to the broader economy.
Key Facts
- Sound recording studios generate over $10 billion in annual revenue.
- The industry employs more than 25,000 people in the United States.
- Revenue growth in this sector has outpaced the overall economy in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by sound recording studios, which provide services such as audio recording, mixing, and mastering for the music industry.
Q: Why is this trend relevant for users or analysts?
A: Understanding the revenue trends in the sound recording studios industry is crucial for policymakers, investors, and industry stakeholders to gauge the overall health and growth of the music production sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of employer firms in the sound recording studios industry.
Q: How is this trend used in economic policy?
A: Policymakers and industry stakeholders use this trend to assess the financial state of the music production sector and its contribution to the broader economy, which can inform decision-making around policies, investments, and market strategies.
Q: Are there update delays or limitations?
A: The data is subject to the typical publication lags of U.S. Census Bureau surveys, with a delay of several months between the end of the reference period and the public release of the statistics.
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Citation
U.S. Federal Reserve, Total Revenue for Sound Recording Studios, All Establishments, Employer Firms (REVEF51224ALLEST), retrieved from FRED.