Budget 2026: RIM Urges Gov't Support For Local Music Industry

KUALA LUMPUR, Oct 8 (Bernama) -- The Recording Industry Association of Malaysia (RIM) has urged the government to provide stronger support for the development of the country’s music industry ahead of the tabling of Budget 2026, to empower the local creative sector as a driver of Malaysia’s digital economy.  

Its chairman, Rosmin Hashim said increasing funding allocations for the music sector could generate significant economic spillover effects, as the music industry is now among high-value digital assets with strong potential to contribute to national economic growth.  

“According to the PwC Malaysia Music Industry Economic Impact Study for the 2016 to 2020 period, the local music industry contributed RM19.4 billion to the national economy, generated annual tax revenues of RM531 million and supported an average of 111,000 jobs each year.  

“This increase in funding would not only benefit music industry players but also stimulate related sectors such as live music events, broadcasting media, entertainment venues and tourism, thereby strengthening the ecosystem of the national creative industry,” he said in a statement today.  

He said Malaysia’s music industry also recorded encouraging growth, posting its highest revenue in history — RM339 million in 2024 — driven by digital platforms such as YouTube, Spotify, Apple Music, TikTok and Facebook, as well as collections from collective management organisations such as Music Authors Copyright Protection (MACP) Berhad, Public Performance Malaysia (PPM) and Recording Performers Malaysia (RPM).  

“This figure does not yet include revenue from other activities such as music production, artist management and live concerts. If all these elements were combined, the actual total income of Malaysia’s music industry would be much higher,” he said.  

Rosmin said the Music Industry Digital Creative Fund (DKD) under the Ministry of Communications has proven effective in producing more high-quality works, as reflected in previous fund recipients such as Aina Abdul and Dayang Nurfaizah, who each dominated major nomination categories at this year’s Anugerah Industri Muzik (AIM).  

He also stressed the need to strengthen efforts to promote local music to global markets, noting that Malaysia’s rich cultural diversity offers a unique advantage to penetrate major markets such as China, India and Indonesia.  

“Recordings in Malay, Chinese and Indian languages have great potential, in addition to the nasheed genre which can reach global Islamic markets. With strategic government policies and public-private collaboration, Malaysia can emulate the success of South Korea and Japan in exporting their digital content.  

“South Korea’s success serves as an example, with government investment in the K-pop industry rising from 1 billion Won to 319 billion Won between 2009 and 2013, and projected to reach 696 billion Won next year — proving that investment in music can be an economic driver for a nation.  

“With greater funding support, structured training for local talents and aggressive international promotion, Malaysia’s music industry can achieve its full potential,” he added. 

-- BERNAMA