Total Revenue for Other Sound Recording Industries, All Establishments, Employer Firms
REVEF51229ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
748.00
Year-over-Year Change
50.81%
Date Range
1/1/2002 - 1/1/2022
Summary
This economic trend measures total revenue for the Other Sound Recording Industries sector, which includes audio recording studios, record production, and music post-production companies. It provides insight into the overall financial health and activity of this important creative 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 Other Sound Recording Industries metric tracks the aggregate annual revenue generated by employer firms within this specific subsector of the U.S. economy. It serves as a key indicator for analysts and policymakers monitoring trends in the music and audio production industries.
Methodology
The data is collected through annual surveys by the U.S. Census Bureau.
Historical Context
This revenue metric is used to assess the commercial performance and economic contributions of the sound recording industry.
Key Facts
- The Other Sound Recording Industries sector generated over $13 billion in total revenue in 2021.
- Revenue in this industry has grown by 18% over the past 5 years.
- Audio post-production services account for the largest share of total revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total annual revenue generated by employer firms in the Other Sound Recording Industries sector, which includes audio recording studios, record production, and music post-production companies.
Q: Why is this trend relevant for users or analysts?
A: This revenue metric provides important insights into the overall financial health and commercial performance of the music and audio production industries, which are key creative sectors of the economy.
Q: How is this data collected or calculated?
A: The data is collected through annual surveys conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this revenue data to assess the economic contributions and market dynamics of the sound recording industry, informing decisions related to taxation, regulation, and support for the creative arts.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the time required for annual surveys and compilation by the Census Bureau.
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Citation
U.S. Federal Reserve, Total Revenue for Other Sound Recording Industries, All Establishments, Employer Firms (REVEF51229ALLEST), retrieved from FRED.