Music industry worth almost €500m to economy, report says

A new report by the music industry claims it is worth almost half a billion euro to the Irish economy.

The study, carried out by Deloitte for the Irish Music Rights Organisation, says over 11,500 jobs are supported by both live and recorded music.

It is calling for a new music industry task force, with input from the Government, to further boost its contribution to tourism and jobs.

Imro says that despite the positive outlook, challenges do remain as more fans turn to illegal downloads, with sales down by almost €40m in the four years to 2012.