This report establishes the first nationally consistent methodology and analysis of the direct economic contribution of Australia’s music industry. It also estimates the 2023–24 economic contribution of music industry subsectors: live music performance; music recording, production, label services and distribution; composition, songwriting and music publishing; artist management; and music retail.

The report provides:

• a definition of Australia’s music industry suitable for the purpose of economic analysis
• a credible methodology to estimate direct economic contribution now and over time
• estimates of the direct economic contribution, direct employment and value of export revenues of the Australian music industry.

Key findings

• The Australian music industry generated revenues of $8.78 billion and contributed $2.82 billion in direct gross value added to the Australian economy in 2023–24.
• There is strong international demand for Australian music with music exports contributing an estimated $975 million to the total Australian music industry revenue.