News October 27, 2015

2014 Report: QMusic reports largest surplus ever

Former Editor

In October 2013 the Queensland Government announced a 28% cut to QMusic funding from 2014-2016, however last year the music industry association reported its largest surplus yet.

For 2014 the State Governmentaxed $60,000 in Arts Queensland core funding to $227,000, this year reduced it again to $204,000 and will reduce it again next year to $184,000.

QMusic’s tight budget in 2013 delivered a $2,517 surplus, however income from QMusic’s music industry event BIGSOUND (which the State Government did agree to fund), as well as flagship events, its partners like Virgin Australia, Hutchinson Builders and Bank of Queensland, funding from Australia Council for the Arts, and the efforts of its previous Executive Officer Denise Foley, saw QMusic end2014 with the largest surplus yet seen; $102,819 after making full provision for staff leave entitlements.

According to QMusic’s 2014 Annual Report, which was delivered by QMusic Treasurer,Ben Hancockon Wednesday night at the body’s AGM, the 13th BIGSOUND generated $264,000 in sponsorship income; a $94,000 increase on 2013. $2.82 millionin spending from visitors and attendees was generated at BIGSOUND, an increase of 47% on 2013.

QMusic generated $284,702 from sponsorships in 2014, up from $182,000 in 2013.

"It is of considerable note that QMusic, in the face of these challenges, also sought to maintain the delivery of its valued services to the wider Queensland community,” said Ben Hancock.

2014 also marked QMusic’s 20th year, having launched in 1994 with its first round of funding. Last year saw the departure of Executive Officer Denise Foley, who stood down in November after nine years in the role. Foley has decided to remain in the role of BIGSOUND producer and is replaced by Joel Edmondson.

“Expansion of our partnership base and engagement with a new State Government will be essential to continuing to be able to deliver a program above and beyond our signature events in 2015 and beyond,” Edmondson said in the Annual Report. “QMusic remains committed to returning to the level of service delivery that was possible prior to 2014, but with a renewed approach to professional development that is strategically aligned to the contemporary challenges of artists, industry and government.”