New Study Looks At Live Music's Financial Impact In Australia

ULTIMO, NSW (CelebrityAccess) — A new report indicates that Australia's live industry generated A$15.7 billion ($11.5 billion) for the nation's economy in 2014.

The study, "The Economic and Cultural Value of Live Music in Australia 2014" was the first of its kind since 2011 and conducted through a partnership between Australia's Live Music Office, the University of Tasmania, City of Sydney, City of Melbourne, and The Government of South Australia.

The study found that live music generated a conservative estimate of $15.7 billion AUD for the Australian economy, including 2.1 billion dollars of commercial benefits, 3.2 billion dollars of civic benefits and 10.4 billion dollars of individual benefits.' Also included in the benefits accrued were 65,000 full and part-time jobs.

The study was coallated through a national consumer survey along with a poll of venue operators in key markets. – Staff Writers

Researchers came to its conclusions after conducting a national consumer survey alongside a poll of venues operators in Hobart, Melbourne, Adelaide and Sydney, driven with an ambition to learn more of the economic, social and cultural contribution of the country’s live music industry. – Staff Writers