Indie music venues bring billions to Tennessee, U.S. economy, report finds
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Independent music venues contributed $86 billion to the U.S. economy in 2024, according to a first-of-its-kind report released this week.
Why it matters: The report was produced by the National Independent Venue Association (NIVA) to inform policymakers and music industry stakeholders about the importance of independent venues.
Yes, but: The report's findings weren't all cause for a standing ovation. In 2024, 64% of the nation's independent venues were not profitable.
Flashback: NIVA launched in 2020 after the pandemic hit and pushed independent venues to the brink. The group successfully lobbied Congress for safety net funding, and then expanded its advocacy in recent years.
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.
- Independent venues in major cities are also facing escalating real estate costs and inflation.
By the numbers: According to the report, which tracked data in all 50 states and Washington, D.C., independent venues generated $153.1 billion in total economic output in 2024.
- They also supported 907,000 jobs and paid over $51.7 billion in wages and benefits.
Zoom in: In Tennessee, independent venues like Station Inn and 3rd & Lindsley generated $4.4 billion in total economic output and added $2.8 billion to the state GDP.
- The spending created $150.7 million in state and local tax revenue.
What's next: NIVA wants policymakers to use the data as motivation to back policies that preserve music venues. The report cites state laws in Maine and Maryland to cap ticket resale prices, as well as state-backed live music performance funds in Texas and Tennessee.
- "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 press release.
Go deeper: Read the national report and the findings for Tennessee.