The U.S. Senate Commerce, Science, and Transportation Committee has passed the bipartisan American Music Tourism Act, introduced by Senators Marsha Blackburn (R-Tenn.) and John Hickenlooper (D-Colo.), on August 23, 2024. This legislation aims to support and enhance music tourism, encouraging both domestic and international visitors to explore music venues across the United States. The bill has received backing from prominent organizations such as the Recording Academy, Live Nation Entertainment, and the Tennessee Department of Tourism Development. Projections indicate that the music tourism market is expected to reach $11.3 billion by 2032, reflecting the significant economic impact of the music industry, which generates over $43 billion annually. The legislation mandates that the Assistant Secretary for Travel and Tourism at the Commerce Department promote musical sites and report to Congress on the progress of tourism goals. [8c0e701b]
In conjunction with this development, U.S. Representative Maxwell Alejandro Frost has introduced the CREATE Art Act, which aims to support emerging artists through the establishment of grant programs covering costs for instruments, studio time, marketing, and travel. This initiative has received endorsements from various organizations, including the Recording Academy and the Future of Music Coalition, and is seen as a vital investment in the arts that can stimulate local economies. The CREATE Art Act was unveiled during a mini concert event featuring the Orlando-based band Venture Motel. [0196e757]
Additionally, Democrats have introduced the STAGE Act, which proposes an annual allocation of $1 billion to support community theaters and the arts industry. This funding is intended to help theaters cover rent, employ artists, and attract new audiences, especially in light of the pandemic's impact on the sector. While supporters argue that the bill is essential for preserving the theater community, critics have raised concerns about taxpayer funding for struggling arts organizations. [e48ac21f]
A recent report by the Recording Industry Association of America (RIAA) highlights the music industry's substantial contributions to the U.S. economy, revealing that it added $212 billion to the GDP, representing a 5.7% annual growth from 2017 to 2020. The industry supports approximately 2.5 million jobs, with California leading in economic contributions at $51.4 billion, followed by Texas ($26.6 billion), New York ($24.9 billion), Florida ($9.3 billion), Tennessee ($7.5 billion), and Pennsylvania ($6.3 billion). This report analyzes data from before and after the COVID-19 pandemic, underscoring the resilience and importance of the music sector in economic recovery. [d2643ec5]
The American Alliance of Museums (AAM) has expressed disappointment over the exclusion of museums from Community Project Funding, a move that could hinder their ability to secure necessary support for educational and community initiatives. The AAM advocates for museums to be allowed to compete for earmarks, emphasizing their significant contributions to the U.S. economy and job market. [8e522914]