THE CONTRIBUTION OF MUSIC INDUSTRY TO THE
ECONOMY OF THE PHILIPPINES
By: Katrin Leigh Lim & Niña Kathrina Victorino
Fourth Year Economics Students, College of Commerece
University of Santo Tomas
Adviser: Rosemary Dinio & Amparo Pamela Fabe
ABSTRACT
The Philippine music industry makes a vital contribution to economic
growth. First it provides veritable range of employment to music performers,
recording artists and technical assistants. Second it remits a regular tax
contribution to the national government coffers. Third, it provides
wholesome entertainment to the local populace. This research study attempts
to capture the contribution of the music industry to the levels of the Gross
Domestic Product, employment and tax payments. This study concludes with
three salient points. One, 2.39% of the changes in the Gross Domestic
Product is brought by the Gross Sales of the recording industry. Two,
14.46% changes in the national employment can be explained by the
employment generated by the recording industries. And three, 14.64% of the
changes in the National Tax Collection by the government are brought by the
tax paid by the recording companies.