Music exists everywhere in daily activities. People listen to music when driving, studying, or relaxing as well as in commercial. Music has the ability to move people in many mysterious ways. The purpose of this article is to discuss the role of music in economic development.
Music is one of the biggest industries in the world. According to International Federation of the Phonography Industry, the music industry sales was $5.8 billion, and performance rights revenue is growing the fastest to $943 million( up from $862 million in 2011). In the emerging world, people are exploring different kinds of music to fit their taste.
In addition, with the increasing use of the internet, it is easier to spread and create a new movement in music. Africa music can get bigger and gain more popularity around the world. Apart from record sales for African music, music can draw other kind of revenue such as concerts, tourist, and sales of band merchandise. The growth in these sectors will create more jobs in the local job market and in Africa as a whole.
Besides, the monetary effect of music on the economy, music can also have an effect on people’s mindset.
Music is the way for people to express and share themselves with others. When people are able to share their opinion with others, African musicians can encourage people to try harder and overcome daily life challenges and reach for higher goals.
Music can also draw attention to African countries and show citizens in developed countries that African is a growing continent not just a sad story for the world.
Nowadays, in Africa, many people are creating labs so that locals can produce music to spread the music effect to others. With low marketing cost, music can produce a steady stream of revenue for the economy and represent Africa in the eyes of people globally.
– Phong Pham