Australia’s live entertainment industry accumulates an incredible $2 billion a year.
According to a study ‘Size and Scope of the Live Entertainment Industry 2010‘ released in Melbourne by the industry body, Live Performance Australia (LPA), the industry made $1.88 billion and contributed $1.1 billion to the nation’s economy in 2008, making it bigger than the football codes, horse racing and film and video production. The study also found the industry employed 13,800 full-time positions, spanning genres from ballet and dance to classical music, theatre and rock festivals.
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 emphasized not only the industry’s economic benefits, but also other advantages such as an improved lifestyle, diversity, and increased creativity.
Of this figure, over 40 percent of revenue was attributed to non-classical or contemporary music, making it the most significant contributor from the sector.
In a statement by LPA Chief Executive Evelyn Richardson, she said that the study demonstrates the significant contribution the industry makes to the Australian economy, despite limited government investment.
She said the live entertainment industry also generated intangible benefits such as improved social cohesion, lifestyle improvement and diversity that are not reflected in economic metrics in the benchmark study.
“This industry is a sophisticated contributor in terms of financial, employment, and quality of life metrics to the Australian economy,” she said.
“This study provides a snapshot of the live entertainment industry’s economic contribution in terms of gross output, value-add and employment.”
