Independent music venues contributed $86 billion to the U.S. economy in 2024, according to a first-of-its-kind report released this week.
The big picture: The report was produced by the National Independent Venue Association (NIVA) to inform policymakers and music industry stakeholders about the importance of independent venues.
Zoom in: In California, independent venues generated $18 billion in total economic output, added $10.9 billion to the state GDP and produced about $829 million in tax revenue.
The industry supported 102,990 jobs and paid about $7 billion in wages in the state.
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.
Just 31% of California's independent stages reported profitability last year.
