4142.0 - Business of Music, Australia, Summary, 1995-96
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/10/1997 Ceased
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Music makes a billion dollar sound
The first comprehensive look at the Australian music business shows that in 1995-96 it had income about the same size as Australia's book publishing industry, according to Australian Bureau of Statistics figures released today.
The ABS said total income for the music business was $1,064 million. This was shared between 541 businesses comprising record companies, distributors, manufacturers of recorded music, music publishers and sound recording studios.
Some 3,886 people (including working proprietors) were employed, with 60 per cent employed by record companies and distributors, 21 per cent by sound recording studios and the remainder by music publishers and manufacturers.
The survey included the production and distribution of recorded music products (ie compact discs, audio cassettes, vinyl records) and sheet music and the transactions resulting from the exploitation and licensing of copyright in sound recordings and music compositions.
Total sales of goods and services were valued at $897 million with record companies and distributors generating $726 million (81 per cent) and manufacturers of recorded music generating $94m (11 per cent).
Publishing and sound recording royalties accounted for $136 million (13 per cent) of total income. Of these royalties, $94 million was earned by music publishers and $42 million by record companies and distributors.
Music businesses recorded an operating profit before tax of $80 million with record companies and distributors contributing 61 per cent of profit. The overall profit margin was 7.5 per cent.
The ABS said the data from the survey provided valuable information on the economic position of the music business and would enable improved future policy and planning decisions to be made, especially in relation to industry development and export strategies. Individual organisations would be able to compare their own performance with the aggregate for all businesses.
Business of Music, Australia, Summary, 1995-96 (cat. no. 4142.0) is available from the ABS. More information, including data about managers of musical artists and artists managed, will be published in Business of Music, Australia, 1995-96 (cat. no. 4143.0) in November 1997.
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