Live music impacts New Zealand’s economy

New Zealand’s live music sector directly contributed an estimated NZ$75.3 million to the country’s economy, according to the recently released PricewaterhouseCoopers’ New Zealand Music Industry Economic Report 2015 report.

According to the report, 2015 saw an estimated $158 million earned in live performance revenues from tours, festivals and other music events while also creating 1,111 full-time equivalent employees (FTEs).

The report also shows that New Zealand’s live music sector has been growing over the past four years, from $95 million in 2013 and $100 million in 2014.

Last year’s strong rise was attributed to a large number of international tours, as well as a greater consumer support for New Zealand acts, which now make up 10% of domestic recorded music sales. Of the $158 million in direct impact, $44.3 million came from ticket sales for local talent.

Across the board, the New Zealand music industry directly contributed $245 million last year, up from $213 million  in 2014.

It also added 2,259 full time equivalent employees (FTEs), up from 1,754 the year before.

After accounting for multiplier effects, its total contribution was $484 million and the equivalent of 4,508 FTEs.

Live music was the second-largest music contributor, after music radio broadcasting, with $92 million and before music retail with directly $62 million, communication and public performance at $13.8 million and synchronisation at $2 million.

The full report can be seeb at www.recordedmusic.co.nz/portfolio/nz-music-industry-economic-report/

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