Research Begins On Aussie Music Value

At a time when Aussie acts as Sia, Tame Impala, Empire of the Sun, 5 Seconds of Summer, Courtney Barnett, Flume, Vance Joy and Troye Sivan make their mark on international stages and charts, the first study in the country has begun to determine the economic and cultural value of its music export.

Photo: Joel Ryan / Invision / AP

V Festival, Hylands Park, Chelmsford, UK

It is a collaboration between the music industry and academics from the University of Newcastle and Monash University.

“This is a great opportunity to study the workings of a global industry which has been neglected by most international business and management researchers,” says one of the chief investigators, Prof. Stephen Chen of the University of Newcastle. “It promises to bring a fresh perspective on exporting in the creative industries, and should be useful for artists, companies in the industry as well as policy makers.”

The research, lasting over three years, will also look at exports’ contribution to Australian identity, their integration with public policy and, most importantly, investigate the impact investment return on the music export body Sounds Australia.

Set up in 2009, it has helped 619 acts showcase at 48 trade events in 52 cities in 19 countries, and reveals at least 1593 business outcomes in the form of record, booking agency and sync deals. However, much to the anger of the local music industry, its funding by the Australian government looks like stopping after December 31, 2016.