Live Performance Australia [LPA], the peak body for Australia’s live entertainment and performing arts industry, today launched its first benchmarking study on the Size & Scope of the Live Entertainment Industry 2010 by Ernst & Young.
The Study finds that the industry generated revenues of $1.88 billion in 2008 and contributed $1.1 billion to the Australian economy making it larger than film and video production, sports and physical recreation, book publishing and horse and dog racing.
The industry, which employs 13,800 full time equivalent positions, is made up of many diverse sectors ranging from ballet and dance to classical music, theatre and to rock festivals.
Non-classical (contemporary) music is the most significant contributor by event category, comprising 40 percent of the industry’s total value-add.
Chief Executive of Live Performance Australia (LPA), Evelyn Richardson said the Study is broader in scope than those previously undertaken by the Australian Bureau of Statistics (ABS), and demonstrates the significant economic contribution of the industry, despite limited government investment in certain event categories.
“This study provides a snapshot of the live entertainment industry’s economic contribution in terms of gross output, value-add and employment during 2008,” Richardson said.
The live entertainment industry also generates a number of intangible benefits that are not reflected in economic metrics like this benchmark study. These include improved social cohesion, lifestyle improvement, diversity and increased creativity.
“This industry is a sophisticated contributor in terms of financial, employment, and quality of life metrics to the Australian economy. Regular benchmarking enables the industry and importantly its private and Government stakeholders to see its real and tangible value,” Richardson said.