Including the related sectors, the gross value added was 1.21 billion euros. This is related to 20,000 jobs.
The industry associations VÖZ, ÖZV and VRM have had the economic importance of Austrian print media assessed. Accordingly, the domestic newspapers and magazines achieved direct net sales of EUR 1.8 billion in 2019 with over 7,500 employees.
This results in a direct value-added effect of 601.3 million euros, determined the Institute Economica on behalf of the associations.
If you add indirect and induced effects, the gross value added doubles to 1.21 billion euros, which is related to almost 20,000 jobs. There is also a lot going into the state, for example in Austria a total of 621.2 million euros in taxes are generated through print media.
“The present study clearly shows that every euro invested in print secures numerous jobs. And not only in print publishers, but also in the rest of the economy. Public bodies in particular should be aware of this,” said Dieter Henrich, managing director of the Association of Regional media Austria (VRM), on Thursday according to a broadcast.
VÖZ managing director Gerald Grünberger also wants to make these facts available to those with political responsibility “when it comes to assessing issues such as sales tax reduction or press subsidies”.
