What is Chicago's musical future?

The future of Chicago's music industry is under discussion tonight when a diverse panel of industry players convenes to discuss issues relating to "Chicago: Music City," a University of Chicago study that focuses on how music impacts the city economically.

Sponsored by the Chicago Music Commission, an independent networking group of Chicago musicians and industry personnel, the panel will summarize the study's findings and talk about how Chicago needs to position itself to be recognized as a world-class music hotspot.

Among the study's findings is the fact that Chicago's live music scene generates $80 million in revenues, dwarfing competing cities like Austin, Texas, and Nashville, Tenn. Chicago also has the third largest music-related work force, boasting more than 53,000 people and a $1 billion payroll.

Tonight's panel experts includes Jerry Mickelson of Jam Productions, Kenard Karter of WGCI, Gary Matts of the Chicago Federation of Musicians, Shawn Murphy of ASCAP and Michael Yerke, talent buyer for House of Blues.

The presentation takes place starting at 6 tonight at the Harris Theater for Music and Dance at Millennium Park, 205 E. Randolph St., Chicago. It's free. For more information or to download the entire report, visit chicago-music.org.