A late July study from the International Intellectual Property Alliance shows that U.S. copyright industries continue to lead the economy in their contributions to job growth, gross domestic product and exports. Though the study does not take into consideration recent economic events, it does demonstrate an encouraging, consistently upward progression of revenues and other growth indicators over a five-year period, highlighting the need for stronger laws and their enforcement.
The 2003–2007 study demonstrates that the real annual growth rates achieved by copyright industries were more than twice those achieved by the entire U.S. economy. The copyright industries’ contribution to general economic growth of the country is disproportionately high: in 2007, copyright industries contributed more than 43% of the real growth achieved for the U.S. economy as a whole. In the same year, copyright industries generated $1.52 trillion or 11% of GDP.
Foreign sales of U.S. copyright product are also growing, having risen by 8% from $116 billion in 2006 to nearly $126 billion in 2007 and significantly exceeding sales of other industries—notably those of aircraft, automobile, agricultural, food and pharmaceutical segments.
U.S. copyright industries employed 11.7 million people, or 8.5% of the country’s workforce, in 2007. The average annual compensation of $66,498 exceeded the U.S. average by 18%.
According to IPPA, the 2003–2007 study stresses the continuing need for the U.S. Government to focus on the economic and social importance of the creative industries—by providing a safer environment that enforces copyright laws and takes into account changes in technology and new infringement threats that undermine creativity and innovation.