A new report released today by Music Australia, The Bass Line: Charting the Economic Contribution of Australia's Music Industry, finds the Australian music industry generated revenues of $8.78 billion and contributed $2.82 billion in direct gross value added, or GVA, to the Australian economy in 2023-24.
The Bass Line, undertaken by McAtamney & Advisors, provides the first comprehensive measure of the economic contribution of Australia's music industry. It brings together hundreds of thousands of data points, including data from industry, government, and over 1,000 individuals and businesses working across the music industry.
It shows strong international demand for Australian music with music exports, including income from overseas streaming, performances, rights and retail, contributing an estimated $975 million to the total Australian music industry revenue.
The report analyses the economic contribution of sub sectors across the music industry, including:
- Live music performance contributed $4.83 billion in revenue and $1.44 billion in direct GVA
- Music recording, production, label services and distribution contributed $790 million in revenue and $350 million in direct GVA
- Composition, songwriting and music publishing contributed $470 million in revenue and $155 million in direct GVA.
- Artist Management contributed $195 million in revenue and $92 million in direct GVA.
- Music retail contributed $2.73 billion in revenue and $515 million in direct GVA
Australian artists earned $860 million from their work across the music industry, with 48% of this income earned through live music. The median music artist income was $14,700, and approximately 82% of Australian artist income was earned by the top 25% of income earners.
Director Music Australia Millie Millgate said:
"Australians know instinctively – and research confirms – that music brings us together, supports our wellbeing and enriches our lives. While the social and cultural value of music is understood, this report is the first comprehensive, end-to-end and segmented analysis of its economic contribution."
"The Bass Line will be an ongoing annual series, providing a valuable tool for those working across all parts of the music industry. This first edition provides a baseline repeatable measurement of music's impact and value."
Music Australia acknowledges and thanks the many government agencies, peak bodies, and industry collecting organisations whose insights allowed us to better understand the industry's value chain and existing data collection.
The findings will be discussed today at an industry forum being hosted by Music Australia to mark the two-year anniversary of the legislation that established Music Australia within Creative Australia. Join the livestream to hear more insights, including a panel discussion moderated by Chris Carey (FastForward, UK) from 10am AEST today (Thursday on 12 June 2025).
Read The Bass Line report on the Music Australia website.
