September 3, 2009

ECMA Releases Economic Impact Statement

Direct sales of Atlantic Canadian artists/companies close to $1 million

Charlottetown, PEI – The East Coast Music Association (ECMA) released today its economic impact statement for the 2007- 2008 time period. The results are impressive demonstrating a direct sales estimate by Atlantic-based artists and companies of approximately $1 million. 

In addition to the direct sales number, the total amount of in-Atlantic ECMA operating expenditures over the same two-year period is estimated at $3,725,764.   The net inflow of dollars from visitors to the Atlantic region as a result of those year’s events is estimated at $490,000.  In total, the combined direct impact of the ECMA represents an incredible $5,214,101.

Su Hutchinson, ECMA’s Executive Director says it’s important acknowledge the extensive reach of Atlantic Canadian music.  “This economic impact study exemplifies this very fact – how far East Coast music extends and the successes our artists achieve all over the world from a business development perspective.”  She adds that the ECMA annual event is the essence of this building effect.  “Our event not only supports East Coast artists and companies, it manages to cause an exceptional economic ripple effect for our host communities and that is important for us as an organization.”

The study was completed by Consortia Development Group of Moncton, NB.  Consortia also estimated indirect impact which resulted in a total estimated economic impact of $7,989,021 during the two years under review.  This figure does not include indirect sales by Atlantic-based artists and companies.  In this regard, the case studies provide compelling evidence that direct, ECMA-related sales give rise to significant indirect sales, which could bring the total impact well within the $10 million range for 2007 and 2008.

Consortia used a number of research tools, namely a survey of East Coast and international delegates, a document review and analysis as well as four case studies. The 4 case studies artists are: The Barra McNeils (Nova Scotia), Catherine MacLellan (Prince Edward Island), Duane Andrews (Newfoundland & Labrador) and Matt Andersen (New Brunswick).

In 2003, the ECMA launched an overall Strategic Plan, which comprised five (5) core focuses, including an “international business export development” component. From 2003 to 2008, the organization worked with provincial and federal government partners to conduct trade missions to international music trade events for business and pursue market intelligence activities.

The East Coast Music Awards, Festival & Conference is an annual event organized by the ECMA as a critical part of its mission statement.  The ECMA is a not-for-profit organization whose mandate it is to foster, promote and celebrate East Coast music locally and globally.   The ECMA currently has 1,000 members.

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Media Contact
BJ Grechuk                                                                              
Joseph Scott Entertainment Agency                            bj@josephscott.com