Indie music venues brought $7.8 billion to Florida's economy, report says

Yes, but: The report's findings weren't all cause for a standing ovation. In 2024, 35% of Florida's independent venues were profitable.

The big picture: It's a gritty time for indie music venues. NIVA categorizes independent venues and music festivals as those not owned by a multinational corporation or a publicly traded company.

• The live music industry is dominated by corporate giants like Live Nation and AEG.

State of play: Independent venues in major cities are also facing escalating real estate costs and inflation.

By the numbers: In Texas, independent venues supported 41,855 jobs and more than $186 million in tax revenue, per the NIVA report.

• Gov. Greg Abbott in 2021 signed into law the Texas Music Incubator Rebate Program, which offers certain venues rebates of up to $100,000 on taxes paid on alcohol.

What's next: NIVA, which launched in 2020 after the pandemic pushed independent venues to the brink, wants policymakers to use the data as motivation to back policies that preserve music venues, citing Texas as an example.

• "We can use NIVA's research to strengthen local music ecosystems, working with coalition partners to preserve and protect the value we bring to our communities," Sean Watterson, chair of NIVA's economic research task force, said in a statement.

Read the full story