MELBOURNE, AUSTRALIA (CelebrityAccess MediaWire) — A new study by auditing firm Ernst & Young for Live Performance Australia has revealed that the live music business there is worth nearly $950 million (USD) and employes more than 13,800 full time workers.
The study, entitled "Size & Scope of the Live Entertainment Industry" said that the industry generated revenues of $1.88 billion (AUD), making it larger than film and video production, sports and physical recreation, book publishing and horse and dog racing.
While Ernst & Young's study covered a wide range of sectors, ranging from ballet and dance to classical music, theatre and to rock festivals, contemporary music was the most significant, comprising 40 percent of the industry's total revenue.
"This study provides a snapshot of the live entertainment industry’s economic contribution in terms of gross output, value-add and employment during 2008," Live Performance Australia CEO Evelyn Richardson said in a statement.
"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 added. – CelebrityAccess Staff Writers