Danish music industry contributes DKK 4.7 billion to GDP

After the annual statements for the Danish music sector have been added up, it turns out that festivals and music hubs are doing pretty good business, writes the Berlingske Tidende daily newspaper

A recent statistical report composed by the Rambøll consultancy firm gives testimony to the financial competences of the music industry. The report is unique in the sense that a similar assessment of the music business has never been carried out before and the results are inspiring.

Firstly, the music sector is a very good business as it generates DKK 4.7 billion of Danish GDP.

Secondly, live concerts, particularly at the festivals, constitute 60 percent of the entire revenue. The figures reveal that the sale of tickets almost surpasses the sale of drinks, food and other merchandise related to the concerts.

- One year ago the festivals and music hubs joined forces in a shared organisation and this has proved to give them quite a head-start in the whole live music scene. This is what makes them a serious partner today. The festivals, especially, have been good at developing and forming alliances. It might be a little different for the playing hubs, since they have different beer prices and are dependent on selling drinks. This can make it more difficult to sustain a profit, says Lisa Klint, Director of Musiczonen.

Despite threats from the digital music revolution, the Danish music industry is contributing generously, both in terms of capital and entertainment.