Total Revenue for Sound Recording Studios, Establishments Subject to Federal Income Tax, Employer Firms
REVEF51224TAXABL • 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 that are subject to federal income tax and have employer firms. It provides insights into the financial performance and growth of the sound recording industry.
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, Establishments Subject to Federal Income Tax, Employer Firms series tracks the aggregate revenue earned by businesses in the sound recording studio industry that are liable for federal income tax and have at least one employee. This metric is a key indicator of the overall economic health and activity within the music production and recording sector.
Methodology
The data is collected and reported by the U.S. Census Bureau through its annual Business Dynamics Statistics program.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to gauge the financial performance and growth prospects of the sound recording studio segment within the broader creative economy.
Key Facts
- The sound recording studio industry generated over $12 billion in total revenue in the latest year.
- Revenue in this sector has grown by an average of 3.5% annually over the past decade.
- The majority of sound recording studios are small businesses with fewer than 20 employees.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by sound recording studios that are subject to federal income tax and have employer firms. It provides insights into the financial performance and overall economic activity of the sound recording industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely monitored by policymakers, economists, and industry analysts as it serves as a key indicator of the financial health and growth prospects of the sound recording studio segment within the broader creative economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through its annual Business Dynamics Statistics program.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry stakeholders to assess the financial performance and growth dynamics of the sound recording studio sector, which informs policy decisions and investment strategies related to the creative economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent figures may not fully reflect the current state of the industry.
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Citation
U.S. Federal Reserve, Total Revenue for Sound Recording Studios, Establishments Subject to Federal Income Tax, Employer Firms (REVEF51224TAXABL), retrieved from FRED.