Copyright term, film labeling, and film preservation legislation : hearings before the Subcommittee on Courts and Intellectual Property of the Committee on the Judiciary, House of Representatives, One Hundred Fourth Congress, first session, on H.R. 989, H.R. 1248, and H.R. 1734 ... June 1 and July 13, 1995 (1996)

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123 Copyright industries are one of the largest and fastest growing segments of the U.S. economy. They contribute more to the U.S. economy in terms of value added to Gross Domestic Product (GDP) than any single manufacturing sector and more than most industrial sectors. In 1993, they accounted for 3.7 percent ($238.6 billion) of U.S. GDP. The U.S. leads the worid in entertainment, news, business infonnation, books magazine publishing, sound recording, motion pictures, advertising, video and other film products, computer software packaging, and virtually all other areas of copyrighted works. Our country's global preeminence in copyright works is reflected in 1 992's foreign sales, which exceeded $39.5 billion, an increase of more than 9% from 1991. Here are some examples of America's preeminence in the copyrighted works arena: • American films dominate theatres and TV screens throughout the worid. In 1 992, U.S. films returned an estimated $4 billion in surplus balance of trade. • In 1993, woridwide revenues from ail media theatrical, television, Pay-TV and home video were $20.4 billion, up 7% (1.4 billion) from 1992. • The U.S. recording industry is one of the most influential, creative and visible industries in the worid. In 1993, U.S. record companies generated $10 billion in domestic sales, and worldwide record sales reached $30.5 billion. As a trade commodity, foreign sales of U.S. sound recordings accounted for an estimated $12.3 billion. • The U.S. is the worid's largest market for printed products and the second largest exporter of printed products, with 1993 shipments of more than $4 billion. .