Wanna Know Just How Much WA's Live Music Industry Is Worth To Its Economy?

We’re all very much aware how vibrant WA’s live music scene is, but just how vital it is to the state’s economy has been revealed in a new report, released just in time for WAMFest.

A first-of-a-kind research project conducted by Edith Cowan University has concluded that WA’s music industry is worth nearly $1 billion to the WA economy and, in 2014-15, had a revenue that is 50% higher than for Australia as a whole, per capita.

Not only has it created almost 3000 full time jobs, but it also accounts for wages of $149 million, while contemporary music in WA generates $111 million in ticket sales.  

WAM CEO Mike Harris says considering the figures only represent those listing the music industry as their primary profession, the total amount would in fact be much higher. 

The report also found that the WA music industry is a massive contributor to new employment, with nine new jobs (six in the music industry and a further three in the broader economy) created for every $1 million increase in output in the industry. 

Click on image for larger version.

Harris says local names like Tame Impala and Troye Sivan's success in the international market has only furthered WA's music scene.

"The WA contemporary scene is undoubtedly successful, but talent also runs deep," he says.

"This weekend, WAMFest will showcase more than 160 performances at venues throughout Perth."

Meanwhile, renowned WA musician and comedian Tim Minchin says the report's findings show that the arts sector's importance to the economy is undeniable. 

"Trying to convince economic rationalists of the impossible-to-quantify cultural benefits of music is like trying to explain Shakespeare to pigeons," Minchin says. 

"Happily, we don’t need to waste our breaths.

"This new study proves what every similar study in Australia has already shown: subsidising the music industry is economically smart.The least profound way in which it profits is financially… but if that’s the only thing you care about, then fine.

"Look at the data. Fund the arts. For fuck’s sake."

WAMFest kicks off today — for more details, check out theGuide.