The study was launched at the inaugural RIM Townhall, which took place in Kuala Lumpur, Malaysia.
May 18, 2017
By James Chen
The Recording Industry Association of Malaysia (RIM) released its first ever economic impact study entitled “RIM-PwC Economic Impact Study of the Malaysian Music Industry” in the inaugural RIM Townhall: Meeting of the Minds at the Content Malaysia Pitching Centre, Platinum Sentral, Kuala Lumpur.
The industry townhall event had a full house of over 100 attendees from various industries to participate in voicing out for change in the Malaysian music industry.
The report was successfully launched by the Minister of Communications & Multimedia Malaysia, YB Datuk Seri Dr. Salleh Said Keruak. The economic impact study was spearheaded by RIM to reveal the true facts and figures of Malaysian music industry and determine how the industry contributes to the Malaysia’s economy.
The study assessed the economic impact of the Malaysian music industry from 2011-2015. Some of the key findings presented during the launch are:
1. Malaysian music industry as a whole generated an “economic output” of approx. RM12.2 – RM13.4 billion a year.
2. Malaysian music industry made an impact towards the country’s GDP at about RM 5.5 – RM 6.1 billion per year.
3. Malaysian music industry created around 75,198 – 83,113 job opportunities per year.
4. Malaysian music industry made a tax impact at about RM 228 – RM 247 million per year.