Reports: WA music industry worth an estimated $1bn
Findings in a research project lead by West Australian Music (WAM) has revealed that the contemporary music industry in the state is worth nearly $1 billion to the WA economy.
The research, which is the first of its kind in WA, was conducted by Edith Cowan University (ECU) and commissioned by WAM.
Additional to the staggering numbers generated by the industry in Western Australia, the research found WA served to generate almost 3,000 jobs and accounted for $149 million in total wages.
Furthermore, the report highlights the integral contribution that the WA music industry has to new employment opportunities. With nine new jobs (six jobs in the music industry, and a further three in the broader economy) created for every $1m increase in output in the industry, the research discovered that for every dollar invested in the industry, the economic benefit would be doubled.
A summary of the report showed that over 400 venues in the state hosted live music. $111 million was accumulated in contemporary music ticket sales, with 1.1 million attendances per annum.
“We have local musicians representing our State all over the world,” said WAM Board Chair Al Taylor. “Just one example is Tame Impala performing to a crowd of over 135,000 as one of the headline acts at this year’s Glastonbury Festival. This puts WA on the map internationally. You can’t put a price on that type of exposure.”
WAM’s CEO Mike Harris also spoke highly of the state’s achievements, citing this weekend’s WAMFest as a major contributor to exposing and supporting the local industry.
“The WA contemporary scene is undoubtedly successful but talent also runs deep. This weekend WAMFest will showcase more than 160 performances at venues throughout Perth.”