Essay Example on American Music: A Reflection of Cultural Diversity & Global Influence

American music epitomizes the country's ethnic diversity through a varied array of styles. It draws inspiration and influence from West African, Irish, Scottish, and mainland European cultures (Holt, 2007). America is renowned for music genres such as jazz, blues, rock, Americana, pop, techno, and folk (Holt, 2007). Notably, American music is arguably the world's anthem, given its intense penetration across nations of the world; it attributes to its massive economic gains (Holt, 2007). The 20th century saw American popular music attain an almost global audience, thus more financial benefits (Holt, 2007). American music, directly and indirectly, contributes to the American economy. Notably, a vibrant music industry drives economic value for the country in a myriad of ways (Holt, 2007). It leads to job creation, tourism development, and growth in the business sector. Arguably the significant financial revenues for American music were live performances, although recent technological advancement times have facilitated downloading and online live streaming (Holt, 2007). It has promoted and aided American music in reaching large audiences, thus boosted financial gains. American music promotes cultural sustenance and democracy, although it is a significant contributor to the American economy.

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The US music industry accounts for a third of the entire world music market (Bhatt, 2019). As such, it results in immense economic gains to the United States. First, the music industry contributes a lot to the growth of GDP (Bhatt, 2019). In the year 2012, for instance, the sector channeled at least $ 79.8 billion arising from both the consumers and service providers (Bhatt, 2019). In that similar year, earnings due to the employees in the music industry attained a $49.9 billion mark (Bhatt, 2019). Important to note, the gross industry value surpassed $97.0 billion (Bhatt, 2019). It depicts the economic development role of the music industry in America. According to Bhatt (2019), music's contribution to the American economy continues to rise from time to time. As of the year 2015, the figures recorded in 2012 had tripled (Bhatt, 2019). The industry gained $110.7 billion in revenue (Bhatt, 2019). On the other hand, monies due to the employees as salaries hit a $67.3 billion mark (Bhatt, 2019). Consequently, the net economic effect of the industry on the nation reached $133.2 billion (Bhatt, 2019). The value of the industry just in 3 years saw an exponential growth of 37% from $97.0 billion to $133.2 billion (Bhatt, 2019). Importantly, the realized growth continues to benefit both the producers and consumers to date.

Secondly, the music sector has resulted in job creation. The vast majority of the US citizens have been either employed directly or industry by the music industry. In the year 2012, the number of persons employed by the music industry stood at 1,246,653 (Bhatt, 2019). The music employed population rose to 1,758,930 in the year 2015 (Bhatt, 2019). The growth rate, therefore, stood at 41% in the period 2012-2015 (Bhatt, 2019). The enormous economic contribution arising from music through employments cannot get underestimated since it determines the spending powers and living standards of American citizens. Employment accords everyone a decent living that ultimately leads to the accomplishment of the American dream.

Third, the music industry results in a booming and robust business sector (Baskerville & Baskerville, 2018). Notably, the food and drink business rides on the music industry. Clubs and other entertainment joints relied on the music industry for their survival and continued competitive, especially among the young populace. Most American restaurants make use of music to facilitate the provision of quality services. Consequently, the business sector nourishes and grows. Sales in the drinking sector of the entertainment industry stood at 23.15 billion US dollars in 2015 (Baskerville & Baskerville, 2018). On the other hand, people have opened business stores where they sell music as their fulltime jobs; it is their source of livelihood. Massive growth in the music sector, therefore, means more business in different areas.

The United States of America has one of the best-developed tourism industries in the world. The industry has continued to get boosted by the music sector. Music festivals specifically have contributed a lot to both local and international tourism in the US (Setar & MacFarland, 2012). Revenues from these festivals continue to rise as more and more tourists are recorded during the events. As projected by IbisWorld, the concert and event industry is expected to grow by $28 billion yearly (Setar & MacFarland, 2012). Anticipating huge incomes implies that further involvement of the music industry in matters of tourism shall result in a profound development in the American music sector.

Conclusion

In conclusion, the music industry plays a significant role in financing the economic growth and development of the US. Its contribution to the Gross Domestic Product, job creations, growth, and strengthening of related businesses, as well as the development of the tourism industry, is quite essential. These contributions imply that the sector should continue to get developed and protected against piracy. The actors in the industry arena should thus find ways and means of alleviating this threat to breathe more life to the industry. It will preserve the music sector for posterity. The gains from the music industry are numerous and include those that lack financial value.

Works Cited

Bhatt, S. (2019). Streaming Technology and the Entertainment Industry. The Attention Deficit (pp. 75-95). Palgrave Macmillan, Cham. https://link.springer.com/chapter/10.1007/978-3-030-21848-5_5

Setar, L., & MacFarland, M. (2012). Top 10 fastest-growing industries. Special Report IbisWorld. Com. Available in: http://www. drugstore news. Com/sites/drugstore news. com/files/Fastest% 20Growing% 20Industries-1. pdf. http://absolutevariety.com/wp-content/uploads/2012/04/Fastest-Growing-Industries.pdf

Holt, F. (2007). Genre in popular music. University of Chicago Press. https://books.google.co.ke/books?id=Ek8ssV0pv_IC&sitesec=buy&source=gbs_vpt_read

Baskerville, D., & Baskerville, T. (2018). Music business handbook and career guide. Sage Publications. https://www.amazon.com/Music-Business-Handbook-Career-Guide/dp/1506309534