Tag Archives: GDP

MUSIC DEPRECIATES THREE TIMES AS FAST AS MOVIES

Screen Shot 2013-07-23 at 9.06.57 PMHow fast does music depreciate? Try three times as fast as movies. This isn’t quantified by me just making a random statement. This is actually what the US government is saying.

Now, before we get to the “huff-and-puff” part that the internet likes to flame over, let’s talk about the positive. Starting on July 31st, the U.S. Bureau of Economic Analysis will be restating and recalculating how they come up with the US gross domestic product (GDP). For the first time, they will actually take into account artistic creation (defined mostly as movies, TV, books & music) as part of the economic engine of the United States. They are estimating that it all adds up to about 0.5% of the US GDP, which is $70 Billion dollars. For the government to recognize creatives in this fashion is a huge deal, and will probably result in benefits that we don’t even realize yet.
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But what really caught my eye in the deck from the May briefing and the Businessweek article is the annual depreciation value. Read More…