Theatre on par with Tennis Open for economy injection in Victoria

A new Ernst & Young report has estimated that Melbourne’s six East End theatres and the social and entertainment activity around their shows, contributed two-thirds of a billion dollars ($692 million) to the Victorian economy in 2014/15.

The theatres are The Princess (pictured), Her Majesty’s, Regent, Comedy, Forum and the Athenaeum. All are privately owned and funded.

The East End Theatre District hosted 1729 performances across ten genres which drew 1.5 million patrons from the state, across Australia and from overseas.

These included musical theatre, children’s, festivals, theatre, opera and dance. Contemporary live music and comedy contributed 500 performances during the period.

These figures exceed every other Victorian major event, with the exception of AFL games and the combined attendance at Zoos Victoria.

One in four performance tickets (26%) sold in the whole of Victoria were at these East End theatres. This constituted a direct injection of $226 million worth of new money for the state and created 2957 jobs (1780 direct and 1177 indirect) in 2014-15.

According to Jason Marriner, CEO of theatre operator The Marriner Group, “This is an incredible result that puts theatre on par with major events like the Australian Tennis Open, and proportionally beats Broadway and London. Melbourne is a city of theatre as much as it is a city of sport and food.”

The East End theatres account for 85% of Victoria’s professional musical theatre audiences.

The Victorian Government has ensured that Melbourne remains the culture capital of Australia. According to Ernest & Young, while attendees from outside Victoria make up 16%, this rises to 27% for Australian premieres.

As a result, In the past Les Miserables which had its premiere in Melbourne, injected $40 million into the state economy. The Melbourne-made production of King Kong generated an economic benefit of $104 million, Cyndi Lauper’s Broadway and London West End smash, Kinky Boots, has its Australian premiere at Her Majesty’s on October 12.

Currently, Matilda The Musical’s sold-out season at The Princess (no doubt helped by gaining 13 Helpmanns nominations), continues until November before it moves to Brisbane. Singin’ In The Rain concluded at Her Majesty’s on July 2 and begun a run in Sydney. The Sound of Music plays at the Regent until July 31.

Ben Elton’s Queen-themed We Will Rock You returns this year for the first time in 2003 when it set an advance in advance ticket sales.

The success of the East End theatres has also seen a vibrant and social hub of restaurants, laneway bars, nightclubs, retail and hotels build around them.

However the E&Y report, commissioned by the East End Theatre District, warned that the economic boom might not last.

It said the East End theatres were ageing (the youngest, the Regent, is 87 years old) at a time when patrons’ expectations increased. There was also rising competition from intestate theatres. TMN recently reported that the South Australian Government plans to give Adelaide’s Her Majesty’s a $35 million revamp.

Marriner said: “We recognise that we have significant challenges ahead. All the theatre managements view themselves as custodians just as much as business owners, and we’re doing all we can to ensure these beautiful buildings are around for generations to come.”