Study Reveals How Much Australian Live Music Scene Is Actually Worth
Written by Greg Moskovitch on 23rd June, 2014
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A new report by Australian live music industry body Live Performance Australia (LPA) has valued the Australian live music scene at $2.5 billion. LPA’s study is based on the latest data available and is the group’s second study of the economic size and scope of Australia’s live performance sector.
The June 2014 study, which drew upon data collected in 2012, is broader in scope that the previous study, which was issued in 2010 and based on data collected in 2008. As The Music Network reports, it includes key organisations of the Australia Council for the Arts, and regional and metropolitan venues that are members of the Australian Performing Arts Centre Association.
In addition to an estimated value of $2.5 billion, the study shows that the Australian live sector accounts for 34,131 employees, greater than the 20,439 people employed in film as their primary job. Of the $2.5 billion, 49.6% comes from box office income ($1.2 billion), 28.9% from corporate sponsorship and support ($99.90 million), and 17.6% from government funding ($44.7.30 million).
NSW and Victoria account for 65% of the total value of the industry in terms of output and value add. NSW has the highest value add per capita. The state’s live sector contributes $586.5 million to the state economy, Victoria’s $422.4 million, Queensland $236.5 million, Western Australia $161.7 million, South Australia $87.9 million, ACT $19.4 million, Tasmania $13.2 million, and NT $1.5 million.
Contemporary music holds the highest share of value add (the difference between the sale price and the production cost of a certain product) at nearly 37%, with a generated output of $830.9 million. The category reportedly contributed $564.0 million to the Australian economy for the year studied.
LPA’s Evelyn Richardson said the live sector also generated less quantifiable benefits, such as improved social cohesion and increased creativity. “Our industry is a significant contributor in terms of financial, employment, and quality of life metrics to the Australian economy,” she said.
Photo: Crowd At Groovin The Moo Bendigo, 2014 / Photo: Nikki Williams