The MI industry sees itself as the source and core of the music industry and thus as part of the cultural and creative industry. For example, other industries such as advertising, film, the music business (record industry) and broadcasting, use the MI industry ‘s content and products to generate billions in sales.
Precisely for this reason, the economic importance of the cultural and creative industry cannot be overemphasised. Since the late 1980s it has developed into one of the most dynamic economic sectors in terms of revenue and employment. In 2008 alone, it contributed an estimated €65 billion to overall economic output (gross value added) in Germany. This makes it comparable with major industry sectors such as automotive, engineering and ICT.
The Society of Music Merchants (SOMM) e. V. – the leading association of the musical instrument and music equipment industry in Germany - represents the interests of almost 60 leading manufacturing, sales, trade and media companies in the musical instrument industry, which together represent roughly two-thirds of the German MI market. The association coordinates matters within the industry and to the outside, and cultivates close ties with political bodies, public authorities, institutions and other business associations and market partners. These market partners include:
- Consulting services for Messe Frankfurt
- Coordination, preparation and implementation of a trade fair presence in the interests of members
- Coordination of working groups to improve the trade fair structure in the interests of members
- Participation on the advisory committee
An ongoing exchange of information and views with the following market partners takes place at least twice a year.
In addition, several annual trade fairs and events that are important for the industry take place around the world.
Cultural and Creative Economy
Covering everything from architecture to music and advertising, the cultural and creative economy is a diverse industry. Its members include freelance artists and cultural professionals as well as micro-entrepreneurs and entrepreneurs, such as art dealers, gallery owners and agents. In addition, there are medium-sized businesses such as film and music production companies, manufacturers of musical instruments and computer games, and publishing companies.
The cultural and creative economy continues to go from success to success. In 2010 its revenues increased by 2.2 percent to €137 billion, putting its gross added value at close to €64 billion. This highlights the impressive extent to which the creativity and innovation of the industry contribute to growth and prosperity in Germany, and puts the cultural and creative industry among Germany’s key economic sectors.
(Source: German Federal Government Cultural Creative Industries Initiative)
European School Music Prize 2014
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