Australia's Live Performance Industry Generates Billions In Revenue

If there was ever a concern that Australia's live music industry was suffering those fears have been put to rest with today's announcement that it has found to have contributed billions of dollars to the country's economy in 2014. 

National research conducted by Live Music Australia (LPA) found that Australia's live music industry has contributed exactly $1.51 billion to the economy, not to mention $18.54 million in ticket sales. 

LPA Chief Executive, Evelyn Richardson, said of the results: "The value of the live performance industry to millions of Australians is evident in the continual growth in both revenue and attendance figures."

"Despite a drop in the average ticket price and lower consumer confidence, total revenue from ticket sales increased by 2% and attendance grew by 3.4% in 2014. The live performance industry continues to outperform other strong market sectors, including retail trade, and accommodation and food services and more people attend live performances annually than they do sporting events."

The Ticket Attendance & Revenue Survey also found that contemporary music and musical theatre were the biggest contributors to the figures, generating 40.1% and 21.2% respectively. 

Other key findings from the report found that Victoria, New South Wales and Western Australia garnered the most revenue and attendance from the country's population, while New South Wales' 2014 musical productions of The Lion King and Strictly Ballroom largely contributed to the state's large gains in revenue. 

Tasmania and the Northern Territory also experienced significant growth, which has been contributed to the first-time inclusion of data from Oztix and MONA.