As a city with 1,100+ music-related assets, a rich legacy of recording music, and live music 365 days a year, Memphis stands out as a city with vibrant and creative roots. In fact, Shelby County outperforms the national average when it comes to live music events! But, music is more than entertainment in Memphis — it’s a vital piece of the local economy.
With an undeniable global influence and a music sector that contributes more than $720 million to the local economy, the future of the Memphis music industry lies with the leaders of today.
In 2023, Sound Diplomacy (an international music policy consultancy) was commissioned by the City of Memphis and the Greater Memphis Chamber to analyze the Memphis music ecosystem and develop a comprehensive music strategy to help it strengthen and grow. In 2024, they teamed up with Music Export Memphis and the City of Memphis to release those findings in the Memphis Music Strategy Report.
“Memphis’ music ecosystem creates and supports a total of 5,014 local jobs (1.77% of local employment), a total output of $721.6 million, and a total gross value added (GVA) of $458.4 million. The output multiplier effect in Memphis equals 1.75. This means that for every $1,000 of output generated by the music ecosystem, an additional $750 is created locally across other industries.”
“Memphis is synonymous with music,” the Memphis Music Strategy report explains. “Distinct sounds and genres, landmark recording studios, historical homes, legendary thoroughfares, and a community of talented musicians and creatives are just some of the quality aspects from which Memphis has gained its reputation as a music destination. With the aim to celebrate the musical legacy of the city, and support and promote the existing and future music industry, the City recognized the need for robust and evidence-based data that informed a joined-up strategy.” You can read a summary of the study here and dig into the full findings here.
Want to hear from some of the leaders who are driving change, building infrastructure, and shaping the future of the music ecosystem? Head to New Memphis’ Celebrate What’s Right: Record of Success on June 18 at The Guest House at Graceland!
This event is part of New Memphis’ Celebrate What’s Right series of events that shine a light on progress and success in our community. At each event, New Memphis hosts conversations that spotlight the people, projects, and organizations that are building a better Memphis.
Celebrate What’s Right: Record of Success will feature lunch, networking with cross-sector professionals, and a panel conversation moderated by Jared “Jay B.” Boyd (WYXR) that will dig into some of the findings from the Memphis Music Strategy to illuminate the work — and collaboration — that is ensuring the industry is thriving for both artists and the city’s economy.
Tickets are going quickly — don’t miss your chance to hear from a panel of industry giants, including Boo Mitchell (Royal Studios), Elizabeth Cawein (Music Export Memphis), Nykesha Cole (City of Memphis), Brandon Seavers (Memphis Record Pressing), and Gebre Waddell (Sound Credit).
Fun Fact: According the Memphis Rock ‘n’ Soul Museum, “Memphis” has been mentioned in the lyrics of more than 1,000 songs!
Great cities need great leaders, and New Memphis builds them. New Memphis is a nonprofit leadership development organization that infuses Memphis with leaders who are passionate about positive community change and have the skills needed to take action. New Memphis’ leadership development programs inspire thought, connection, action, and civic engagement, helping participants find meaningful ways to use their talents and networks to be effective city advocates at any point in their careers — from the college classroom to the C-Suite executive.
