PwC report on the value of copyright released
30 June 2020
The copyright industries in Australia employ more than 1 million people, many of whom have suffered a dramatic downturn in their incomes as a result of the COVID-19 restrictions. The Australian Copyright Council welcomes the findings of the biennial PwC Report into The economic contribution of Australia’s copyright industries, which demonstrates the importance of these industries to the Australian economy.
The report comes at a time when the devastating impact of COVID-19 on the creative industries has been recognised in the federal government’s welcome COVID-19 Creative Economy Support Package .
This is the sixth report of its kind commissioned by the Australian Copyright Council. Based on World Intellectual Property Organisation methodology. This research facilitates a comparison between Australia and other economies from 2006-2018.
The study demonstrates that Australia’s copyright industries continue to play a fundamental role in contributing to the Australian economy. Many of these industries are undergoing significant changes to their traditional business models as digitisation changes the way they operate.
CEO Eileen Camilleri said “Arts precincts, venues and events were the first to close during this pandemic, and many of them will be the last to reopen. We are acutely aware that it is creators who have been keeping us entertained during the restrictions, and that they and those who work with them are a vital part of the Australian economy”.
The PwC report found that copyright industries:
- employed over 1 million people which constitutes 8.3% of the Australian workforce.
- generated economic value of $124.1 billion, the equivalent of 6.8% of gross domestic product (GDP), which is greater than other industries including manufacturing and retail trade.
- generated $4.8 billion in exports, which is equal to 1.5% of total exports from Australia.
The PWC report is available on the Australian Copyright Council website.
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