Research conducted by the University of Tasmania and released Wednesday 12 August, 2015 by the Live Music Office shows the live music sector contributed $15.7 billion of value to the Australian community in 2014, providing vital commercial, individual and civic benefits. Among the highlights of the report include:
- Live music spending in Australia delivers at least 3:1 benefit-to-cost ratio;
- Nationally, an estimated 65,000 full and part-time jobs are created by monies spent on live music (page 39), with taxation revenue generated for all tiers of government;
- Food and drink is the number one expense for those attending a live music performance equating to 29.3% of the total spend;
- Expenditure on tickets comes in second at 19.2% of spend, followed by travel at 17.6% and accommodation at 12.4%;
- Audiences are prepared to travel significant distances to attend live music, and this demonstrates live music is a source of regional competitive advantage.
- Live Music attendance was identified by punters and venues as contributing to improved health and wellbeing.
Click here to download the report.