Music industry misses out on live music cash flow

Music industry misses out on live music cash flow

A study released by Ernst and Young last week revealed live music contributes $1.21 billion to the economy.

The report shows small live music venues support almost 15,000 full time jobs, produces profits and wages of $652 million. N.S.W. contributes the most of any state or territory with 32% of industry output.

Crucial to the live-music scene in Sydney is FBI radio, who over the past eight years have connected local musicians to local venues.

Station Manager Evan Kaldor said: “What’s great about this report is that it’s a first step in trying to quantify how the music scene is developing.”

Mr Kaldor said the music industry isn’t just bands and the 1.2 billion ends up being distributed sparsely to those involved.

“Sound and PA engineers, lighting technicians, bookers and agents all have to get paid out of what is the live music pie. 1.2 billion is a lot of money but it has to be spread across a whole different range of stakeholders.”

A study commissioned by the Australia Council for the Arts last year titled, Do you really expect to get paid? revealed that Australian musicians earn an average $19 300 a year, more than a third below minimum wage.

Sydney electronic music duo Fishing said there is a great difference in the figures of the report and the pockets of the musicians.

The band are playing an east coast tour supporting local psychedelic indie rockers Richard in Your Mind but despite great reviews and sold out shows the tour barely generates a profit.

Band member, Russell Fitzgibbon said: “It’s pretty rare for a musician to be able to support themselves just from playing shows… All the money we make from live shows goes straight back into the band – travel, recording, CD pressing, publicity – and we never really see that money until we spend it.”

Mr Kaldor said one of the benefits of this report, as well as a similar report released in Victoria last month, is it will allow policy makers to recognize the size and scope of the music industry.

“The Victorian report showed that more people went to live music than saw sport last year, which is quite a surprise. It would be great to start piercing some of those misconceptions that young people don’t participate in live music… The music industry does not just contribute to our local culture but is also a significant economic contributor.”

By Roslyn Helper

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