Live performance sector hits record $1.51b revenue

A Live Performance Australia (LPA) survey has found that live music and ticket sales in 2014 injected billions into the Australian economy, surpassing 2013’s findings.

According to the Ticket Attendance and Revenue Survey for 2014, the live music industry garnered $1.51 billion in revenue and 18.54 million ticket sales.

Evelyn Richardson, Chief Executive of LPA, said the findings were indicative of a valued and much-loved industry.

“The value of the live performance industry to millions of Australians is evident in the continual growth in both revenue and attendance figures,” she said, noting the support of live music to Australia’s economy.

“Despite a drop in the average ticket price and lower consumer confidence, total revenue from ticket sales increased by 2 per cent and attendance grew by 3.4% in 2014.”

The live music industry outperformed many other market sector industries, including food, retail and accommodation.

“The live performance industry continues to outperform other strong market sectors, and more people attend live performances annually than they do sporting events,” said Richardson.

The two largest contributors to the live music industry were contemporary music and musical theatre, which garnered 40.1% and 21.2% in revenue respectively. Combined, they had an attendance rate 51.6%. Other notable players included music festivals – combined with the two latter categories, they made up of 70% of all industry revenue.

This year’s survey contained data from new partners Brisbane Powerhouse, Hayes Theatre Co, MONA and Oztix. The increase for festivals can be largely attributed to data from MONA and Falls Festival.

The results for this year’s survey found that New South Wales, Victoria and Western Australia reported larger attendance and revenue earnings than the rest of Australia’s population. South Australia and ACT also reported a larger share in attendance. Although revenue and attendance rates in Victoria experienced a decline, it still remained above its national share of the population and had the highest spend per capita in 2014 and 2013.

Revenue generated from the live music sector has risen steadily each year. In August 2014, TMN reported that Australia’s live performance sector saw $1.47 billion in revenue in 2013. The year before, the number was at $1.205 billion.

Image: Miley Cyrus and Paul Dainty on her Bangerz Australian tour last year