Music supports two million jobs in Europe, brings 82 billion euros annually

The European music sector supports two million jobs and contributes €81.9 billion gross value added annually to the GDPs of the 27 European Union member countries and the U.K., a new Oxford Economics study has found. It also found that the music sector exported €9.7 billion worth of goods and services to countries outside the EU and the U.K., Variety reports. Music sector generated €31 billion in tax receipts in the EU and U.K. in 2018, which is 19.4% of the entire EU budget in the same year.