Recent Release | 22 Dec 2022
The Economic Impact of Tax Offsets on Australia’s Live Music Industry
Economic Consulting Team
Oxford Economics
Prior to the COVID-19 pandemic, the venue-based live music industry was a significant part of the economy, and an important part of Australia’s social and cultural lives. Close to half of all Australians accessed live music in 2019. In 2018/19 around 5,000 venues hosted over 10,000 unique musicians and bands who performed over 400,000 ‘gigs’ to audiences around Australia.
BIS Oxford Economics has been engaged by APRA AMCOS to assess how tax offsets levied at venues staging live music might support an economic rebound from the pandemic and foster a healthy live performance ecosystem over the long run. This report explores how tax offsets, calculated as a share of live music expenses might incentivise venues capable of holding live music concerts.
About the team
Our Macro Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Andrew Tessler
Head of Economic Impact Consulting, Australasia, OE Australia
You might be interested in
Turbulence for interest-sensitive sectors in eye of rate hike storm
Much of the recent industrial underperformance in advanced economies is consistent with a slowdown triggered by the monetary policy shock that started in December 2021, our analysis shows. This reinforces our view that interest-sensitive sectors that have been struggling will continue to perform particularly poorly in the coming quarters.
Find Out More
Disney’s Effect on Fueling Florida Economy, Jobs and Tourism
Walt Disney World Resort, one of the world’s most visited vacation destinations, generated $40 billion in economic impact across Florida and more than a quarter of a million total jobs in fiscal year 2022, according to a study from Oxford Economics.
Find Out More
The McDonald’s System’s Multi-Billion Dollar Impact
The McDonald’s System plays an integral role in state economies through its support of jobs and businesses, driving economic opportunity for its independent owner/operators, McDonald’s crew members, and suppliers.
Find Out More
The Economic Impact of U.S. Cable Providers
This report, commissioned by NCTA, shows that cable providers and cable programming providers had a significant impact on the U.S. economy in 2022 in terms of their contribution to GDP, the number of jobs they support, and the tax revenue they stimulate.
Find Out More