Copyright protections don’t just help individuals, they hold up a good part of the U.S. economy, according to a report from the U.S. Chamber of Commerce.
The U.S. Chamber of Commerce’s 2023 report highlights industries like architecture, software, music, publishing, and photography as “core copyright reliant industries.” Combined, these fields “compromise a substantial share of economic activity and jobs,” contributing $1.8 trillion to the economy, or roughly 7.8% of U.S. GDP and 8.1% of total employment.
The copyright sector is worth $12 trillion and employs roughly 50 million people worldwide. The copyright intensive industries worldwide support at least 5% of national employment in most countries and offers wage premium over national averages. The workers in these fields in the U.S. earn an average of $120,000 a year, compared with the national average of $81,000, according to the report.
The report offers a comprehensive examination of the role copyright plays in in the nation’s economic vitality and cultural identity.
The report shows the top employers in these industries include computer system design services, software publishing and the motion picture and video industry.
The report also points to the problem of piracy, which continues to cause serious damages. The U.S. loses between $29 billion and $71 billion a year due to digital video piracy, along with hundreds of thousands of jobs lost, the report shows.
“This illicit activity undermines the investments made by creators and businesses, jeopardizing the innovation and cultural contributions that enrich our society,” the report states.
Topics USA
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