New study shows that Toronto’s live music industry generates $850 million per year

This equates to 10,500 full-time jobs

A new two-year study from Nordicity revealed that Toronto’s venues contribute a whopping $850 million per year, which is the equivalent of 10,500 full-time jobs.

The City of Toronto has recognized the economic impact of the live music industry as a whole, acknowledging that venues are some of the businesses that are most affected by the pandemic. Now, due to ongoing restrictions on large gatherings, the industry is clearly in jeopardy.

“Toronto’s live music venues contribute greatly to the city’s cultural, social and economic fabric but these venues require critical support in the fact of ongoing pressures that have been intensified by the COVID-19 pandemic,” Mayor John Tory explains. “This long awaited study has confirmed the vital role the industry plays in our city and the commitment to supporting them to only through this pandemic but afterwards.”

The study also found that, even prior to the spread of COVID-19, “an alarming number of venues close their doors, often due to rising rent and redevelopment.”

“I want to thank all the partners involved in helping us bring this study forward and for realizing the need for real support for artists and the music venues they rely on,” Tory added.