Live music worth a bundle

Thu 17th Jun, 2010 in Local News

An independent study conducted by financial advisors Ernst and Young has found that Australia’s live entertainment industry accumulates an incredible $2 billion a year.

The size of this annual revenue makes live entertainment a bigger business than video production, horse and dog racing, book publishing, and even sports. The study, titled Size and Scope of the Live Entertainment Industry 2010, found that in 2008 the industry generated $1.88 billion and contributed $1.1 billion to the nation’s economy.

After the noticeable lack of figures on the industry, Live Performance Australia commissioned the study. Using ticketing data, Australia council data, and event profiles, the study was able to demonstrate the industry’s overwhelming contribution to the country. The report emphasised not only the industry’s economic benefits, but also other advantages such as an improved lifestyle, diversity, and increased creativity.

The live entertainment industry employs over 13,800 full-time positions, spanning genres from ballet and dance to classical music, theatre, and rock festivals.

This study could not come at a better time after recent controversies concerning Melbourne and Brisbane’s stricter liquor licensing laws, which dramatically increased operating costs and forced venues like The Tote to close their doors.

Helen Marcou from Save Live Australian Music was happy with the results of the study: “We welcome the figures. They confirm what we’ve known for a long time – the huge contribution live music makes to the economy and associated industries, as well as the cultural impact.”