The music production and distribution industry has seen a record number of jobs created since the Industrial Revolution.
According to the Bureau of Labor Statistics, the number of positions in the industry increased by almost 10 percent in 2019 from the previous year.
The number of full-time and part-time positions grew by 5 percent, while the number in the distribution industry rose by 6 percent.
The number is expected to increase further in 2020 as more companies adopt streaming services to promote their content, as well as expand their business into the emerging digital age.
In a new survey conducted by the National Association of Broadcasters and the Recording Industry Association of America, more than half of the surveyed broadcasters (52 percent) said they would be hiring new employees in 2020, according to a press release from the organization.
“Broadcasters want their listeners to know what’s happening on their network and that’s why we’re taking an aggressive step to diversify the music industry’s workforce,” said NAB CEO Bob Cox in the press release.
“We’re investing in our artists and we’re investing our studios in the new and innovative digital space.”
While many industries are facing a slowdown, it seems the music and video production industry is in a stronger position to withstand the downturn, according the Associated Press.
“In the video and audio business, the industry has been the hardest hit by the economic downturn.
But the industry is starting to rebound and we believe it will recover in 2020,” said Mark L. Smith, the chief executive officer of Universal Music Group.
“Our business continues to be stronger than ever and we continue to see more and more creative talent and talent-driven innovation and the talent pool is growing faster than the talent supply.”
As for the jobs created, the Associated Times reports that the industry’s unemployment rate fell to 5.4 percent in November, a decline of 0.1 percentage point from a year earlier.
According the Bureau for Labor Statistics’ Bureau of Economic Analysis, the unemployment rate for full- and part, year-round workers in 2020 was 5.5 percent.