Small Business Q&A: Victor Finn, CEO of IMRO

For this week’s Q&A Kehlan Kirwan talks with Victor Finn, CEO of IMRO. The Irish Music Rights Organisation recently announced that music is worth €470m to the economy. Victor talks to Kehlan about the importance of music to the economy.

How is the music industry worth so much to the economy?

Well the research, which was undertaken by Deloitte, showed music is contributing annually over €470m to the economy. That’s despite the fact that recorded revenues have fallen significantly over the past five to seven years, falling from €72m to €33m. Recorded revenues are those which include CD sales, downloads, streaming and all the other forms of how people consume music. So is this impact coming more in the live gig / concert side of music? Live music is worth significantly more than the recorded music side of the industry.