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Tennessee's Entertainment Industry

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Tennessee's Entertainment Industry TENNESSEE’S ENTERTAINMENT INDUSTRY Published August 2014 Prepared by: 2 TENNESSEE’S ENTERTAINMENT INDUSTRY A STARRING ROLE: TENNESSEE'S ENTERTAINMENT INDUSTRY Tennessee's entertainment cluster includes 1,253 establishments running the gamut from motion picture and sound recording to broadcasting, film production, musical instrument manufacturing, digital media and music publishing. Tennessee ranks first among states for employment in music publishing and third for employment in record production, sound recording, musical instrument manufacturing, integrated record production and distribution, and musical groups and artists. The rich musical heritage and legacy internationally recognized Gibson Country Music Television (CMT) recording industries of Nashville and Brands, which bases its corporation in channel to more than 92 million homes. Memphis draw musicians, bands, Nashville and has production facilities Viacom located a shared-services songwriters and performers from all in Nashville and Memphis. facility in Williamson County in 2011 to over the world, creating diverse sounds The state is also a home for concert and support the company's finance group. and a melting pot of genres from folk, festival promoters like Knoxville-based Nashville serves as the backdrop and Americana, jazz, blues and soul to rock AC Entertainment, which hosts 750 live filming location for ABC's prime-time and pop. events annually across the nation, network television series, Nashville, Known for decades as Music City including the four-day Bonnaroo festival renewed for its third season in 2014. USA, Nashville has evolved from an that generates an economic impact of Motion picture and video distributors early center of country music into a $50 million each year statewide. also thrive throughout the state. global entertainment headquarters, Tennessee is also rising in film and Examples include Word Entertainment, outpacing New York, Los Angeles and television production. The motion a Warner/Curb company that handles all other U.S. cities in its music industry picture and video industries – which publishing, merchandising, booking concentration. Music publishing giants include production, post-production, and online initiatives for contemporary like Sony, Universal Music Group and distribution and exhibition – number Christian artists; and Affirm Films, a others maintain a strong presence in more than 300 establishments that division of Sony Pictures Entertainment the city, along with fast-growing employ nearly 5,900 workers statewide. that produces films designed to uplift independent labels such as Big Machine Regal Entertainment Group, the and encourage. Another top media and Third Man Records. largest motion picture exhibitor in the distributor is La Vergne-based Ingram The rapid rise of Nashville's music and nation, maintains its national Entertainment Holdings Inc., which in entertainment industry, which supports headquarters in Knoxville, where it has 2013, distributed 85 million units of 56,000 jobs, generates $3 billion in a corporate staff of 350. DVD, Blu-Ray and video game software income and contributes an economic Scripps Networks Interactive, a to retailers nationwide. impact of $10 billion across the region, leading provider of broadcast- and Tennessee's entertainment industry prompted economist Richard Florida digital-based lifestyle content, also is supports thousands of jobs and to proclaim Nashville as “The Silicon based in Knoxville, where it produces contributes billions of dollars to the Valley of the Music Business.” popular cable channels such as the economy, and with record growth World-class instrument Food Network, the Travel Channel, expected in its motion picture and manufacturers populate the state, HGTV and more. sound recording sectors over the next employing approximately 1,000 people. Viacom-owned MTV Networks few years, the spotlight is about to get Among them: Gallagher Guitar, continues to grow its presence in even brighter for the Volunteer State. Muncy Guitars, Guitar Mill and the Nashville, where it broadcasts the 1 TENNESSEE’S ENTERTAINMENT INDUSTRY A BILLION- DOLLAR INDUSTRY $1.1B Total annual wages for industries within Tennessee’s entertainment sector 1,253 Establishments that populate Tennessee’s entertainment sector A GLOBAL ENTERTAINMENT CENTER 17,510 Nashville is part of a quartet of music industry centers across the globe that includes Tennesseans employed in New York, Los Angeles and London. The density of the city’s music industry activity is up entertainment industries to 10 times greater than New York or Los Angeles and up to 30 times greater than the across the state nation overall. The city also boasts a world-class entertainment scene that generates Source: U.S. Bureau of $900 million in arts and cultural sales and draws visitors around the world. More than Labor Statistics, Quarterly 188 arts-related nonprofits operate across the region, and Nashville has a performing arts Census of Employment participation rate that is nearly five times the national average due to high attendance at and Wages paid concerts, theater and musical performances. TENNESSEE ENTERTAINMENT INDUSTRIES Industry NAICS Code Employment Total Wages ($) Motion Picture and Sound Recording 512 7,887 408,304,000 Motion Picture and Video Industries 5121 5,886 248,478,000 Sound Recording Industries 5122 2,001 159,826,000 Broadcasting (except Internet) 515 5,900 373,647,000 Radio and television broadcasting* 5151 4,720 227,536,000 Cable and other subscription programming* 5152 1,154 154,633,000 Magnetic Media Mfg. & Reproducing 33461 227 9,895,000 Musical Instrument Manufacturing 339992 987 44,103,000 Musical Groups & Artists 71113 2,509 282,024,000 Entertainment Cluster Total 17,510 1,117,973,000 * Where 2013 estimates are not available, 2012 estimates are provided Source: U.S. Bureau of Labor Statistics 2 TENNESSEE’S ENTERTAINMENT INDUSTRY MEDIA FIRMS HEADQUARTERED IN TENNESSEE CHARTING MAJOR SUCCESS The Volunteer State is home to: SCRIPPS NETWORKS INTERACTIVE GIBSON GUITAR Leading developer of lifestyle content Top manufacturer of guitars, for television and digital properties banjos, mandolins, dobros and 1 out of 6 Americans working Knoxville other instruments in record production Nashville REGAL ENTERTAINMENT GROUP ECHOLIGHT STUDIOS Nation’s largest motion picture Produces and distributes high- 1 in 11 Americans working in music exhibitor quality, family-friendly movies instrument manufacturing Knoxville Franklin >25% ANDERSON MEDIA CORP. INGRAM ENTERTAINMENT HOLDINGS INC. A leading distributor of consumer products, publisher of chart- Leading wholesale distributor of More than a quarter of the topping music and manufacturer of home entertainment products, nation’s music publishers including DVD, Blu-Ray and video retail display fixtures. Anderson is game software an innovator in e-commerce of magazine subscriptions and digital La Vergne music content. Knoxville 2,509 Musical artists and groups — more than three times the national average WORD ENTERTAINMENT Leading provider of publishing, 131 Music publishing establishments merchandising, booking and online initiatives for contemporary Christian artists Nashville 75 Sound recording studios Source: U.S. Bureau of Labor Statistics 3 TENNESSEE’S ENTERTAINMENT INDUSTRY NASHVILLE’S MUSIC INDUSTRY CLOUT MUSIC INDUSTRY CLUSTER JOBS PER 1,000 WORKING-AGE POPULATION (AGE 20-64) BY METROPOLITAN AREA Atlanta 1.8 Austin 2.6 Charlotte 2.1 Chicago 1.7 Los Angeles 2.8 Memphis 1.8 Nashville 7.8 New Orleans 1.7 New York 2 Seattle 1.8 = music industry cluster jobs per 1,000 workers Source: Nashville Music Industry Study, Nashville Area Chamber of Commerce TOP TENNESSEE EMPLOYERS Company Name Tennessee Employment Tennessee Locations Comcast 3,000 Statewide Technicolor Home Entertainment Services Inc. 1,200 Memphis Scripps Networks Interactive Inc. 1,000 Statewide Gibson Guitar Corp. 850 Nashville, Memphis Regal Cinemas Inc. 850 Statewide, including Knoxville HQ Broadcast Music Inc. (BMI) 400 Nashville Cumulus Broadcasting 350 Nashville Ingram Entertainment Holdings Inc. 300 La Vergne Nashville Symphony Association 205 Nashville Cinram Group Inc. 200 La Vergne ELCOM of Memphis Inc. 200 Memphis The Mapes Piano String Company 200 Elizabethton Universal Music Group 200 Nashville Sony Music Entertainment 200 Nashville 4 TENNESSEE’S ENTERTAINMENT INDUSTRY ENTERTAINMENT INDUSTRY CONCENTRATION <25 26-50 51-100 101-250 > 250 LEADING ADVANTAGES INDUSTRY LEADERS From music making to film and television production, entertainment firms that choose to invest in Tennessee can take advantage of an array of competitive assets, including: #1 For employment in music publishing TALENT-DRIVEN WORKFORCE: Technical talent is plentiful across the state. Several colleges and universities offer programs that specialize in music and film education, including Belmont University, which has a #2 motion pictures and media studies program, and recently established the For number of music publishing nation’s first College of Entertainment and Music Business. establishments CREATIVE CULTURE: Creativity is pervasive throughout Tennessee. Nashville, recently ranked among the nation’s top cities for creative vitality, employs more than 36,000 Creative Class workers. New creative occupations #3 For employment in sound recording growing in the city include fashion, set and exhibit design, and film and industries, record production, video editing. integrated record production and INSPIRING SPACES: Tennessee’s lush pastoral
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