Memphis Charts a Bold Future for Its Music Industry with Landmark Strategy
City Unveils First-Ever Comprehensive Music Strategy and Economic Impact Study, Highlighting a $721.6M Industry and Path for Growth
MEMPHIS, Tenn. March 4, 2025. There is a saying that goes, “There’s just something in the water.” As a historic capital of culture, Memphis has a music scene that is both intangible and profound. There is indeed something about our city that makes it unique. Today, with the release of the city’s first comprehensive music strategy and an economic impact study of our music ecosystem, the conversation about the richness of Memphis’ music shifts from metaphor to concrete data.
The report, produced by international music policy consultancy Sound Diplomacy, includes a set of 32 recommendations for targeted ecosystem growth, and comes after a year of work with more than 700 musicians, industry and music fans engaged. Sound Diplomacy was commissioned by the City of Memphis and the Greater Memphis Chamber in 2023 and began work in early 2024. Their process included a regulatory assessment and comparative analysis, asset mapping, economic impact assessment, stakeholder engagement (through an online survey, in-person focus groups and one-on-one interviews), a SWOT analysis, and creating an action plan.
Capturing accurate measurement of an industry that is often cash-based and off-books comes with challenges – nonetheless, our numbers are impressive: 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.
Few U.S. cities have conducted this type of deep dive into their music ecosystems. Memphis is in good company with San Francisco, New Orleans, Indianapolis, and Huntsville, Ala.
“This comprehensive strategy represents a transformative moment for Memphis’s music ecosystem,” said Ted Townsend, President & CEO of the Greater Memphis Chamber. “This initiative will strengthen our legendary musical heritage while building a sustainable future for our music economy that will create jobs, drive tourism, and ensure Memphis remains at the forefront of musical innovation for generations to come.”
“Music is the heartbeat of Memphis – it tells our story, drives our economy, and connects us to people and communities around the world,” stated Memphis Mayor Paul Young. “This strategy gives us a clear roadmap to celebrate our musical heritage and also to invest in its future. By strengthening our music ecosystem, we’re creating jobs, fostering innovation, and ensuring that Memphis truly owns our international identity as a City of Music.”
“I’m excited to engage the sector as a collaborator to build out an action plan for adopting recommendations provided in the report,” said DeMarcus Suggs, Director of the City’s Office of Creative & Cultural Economy. “This will be a major endeavor in the City’s aim to make Memphis safer, more attractive, and equitable by leaning into innovation and culture.”
The full report, along with a more digestible executive summary that includes all 32 recommendations, can be read online now. Opportunities to engage further with the findings will kick off March 5 with a panel discussion and Q&A at Minglewood Hall.
READ THE REPORT
View the executive summary and access the complete report at MemphisMusicStrategy.com.
ENGAGE WITH THE FINDINGS
Attend a panel conversation on the findings of the music study and strategy:
- WHEN: 5-7:30 p.m., Wednesday, March 5
- WHERE: Minglewood Hall, 1555 Madison Avenue
- WHAT: Presentation by City of Memphis Office of Cultural and Creative Economy Director DeMarcus Suggs. Panel discussion and Q&A on the Memphis music strategy and economic impact study, featuring Mayor Paul Young, Ted Townsend from the Greater Memphis Chamber, and Music Export Memphis Executive Director Elizabeth Cawein; moderated and hosted by artists and entrepreneurs Talibah Safiya and Bertram Williams
- RSVP: MEMmusicstrategy.eventbrite.com
ABOUT THE GREATER MEMPHIS CHAMBER
One of Memphis’ oldest institutions, dating back to 1838, the Greater Memphis Chamber is a privately funded nonprofit that serves as the region’s lead economic development organization and the “Voice of Memphis Business” on local, state, and national issues. The Chamber’s mission is to drive the Memphis business agenda for Greater Memphis. We do this by relentlessly pursuing prosperity for all — through economic and workforce development, pro-growth advocacy, and by providing support and resources to its investors, which include many of the region’s largest employers.
ABOUT THE CITY OF MEMPHIS’ OFFICE OF CULTURAL AND CREATIVE ECONOMY
Mayor Paul Young launched the Office of Creative & Cultural Economy in 2024 to advance Memphis’ vibrant cultural landscape and foster economic growth by championing, cultivating, and investing in Memphis’ artists, cultural organizations, and creative enterprises.
ABOUT SOUND DIPLOMACY
Comprising of consultants and experts worldwide, Sound Diplomacy has advised over 150 clients in over 30 countries, including the public sector such as cities, municipalities, governments, and international governmental organisations, and private entities in the real estate, investment, and cultural and creative sectors. Learn more at sounddiplomacy.com.