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Music and Theatre Productions in Australia Industry Market Research Report Now Updated by IBISWorld
  • USA - English


News provided by

IBISWorld

Aug 02, 2013, 16:00 ET

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IBISWorld Market Research
IBISWorld Market Research

Industry funding continues to fluctuate in line with economic conditions.

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Melbourne, Australia (PRWEB) August 03, 2013 -- Demand for music and theatre productions depends on growth in real household disposable income, which is affected by movements in general employment growth, interest rates and taxes. IBISWorld industry analyst Alen Allday states "industry performance depends on the proportion of expenditure that consumers are willing to allocate to cultural events and activities." Levels of art appreciation, education and training are also important to industry growth. The industry is sensitive to public and private financial support, including government grants and sponsorship, which fluctuate due to economic changes.

IBISWorld forecasts the Music and Theatre Productions industry to generate revenue of $1.2 billion over 2013-14, up 2.7% on the previous year. This will be the result of stronger household disposable incomes, as employment levels remain high across the economy. Over the five years through 2013-14, revenue is expected to grow at an annualised 3.4%. This growth has been driven by higher attendance and ticketing prices. The 2011 Ticket Attendance and Revenue Survey (latest available) undertaken by Live Performance Australia (LPA) indicates that box office takings for live performances across the industry increased strongly in 2010 due to higher ticket sales and prices, before dipping slightly in 2011 due low attendance growth and a small fall in average ticket prices. LPA reported that average ticket price rose by 16.0% in 2008 to $76.60 due to a fall-off in revenue from sponsors and increased to almost $86.00 in 2011. IBISWorld estimates industry growth was steady in 2010-11 due to higher ticketing levels, and is expected to increase at a faster rate in 2011-12 on higher ticket sales and prices. These trends are expected to continue over 2013-14.

According to Allday, "returns and operating income from individual company endowments and foundations have been low due to the adverse impacts of the global financial crisis, lower sponsorship levels and mixed growth in government funding." Some arts companies have indicated to the Federal Government that an imposed 4.0% efficiency dividend in 2012-13 is adversely affecting operations. Regardless, the government dividend remains in place.

Market share concentration for the Music and Theatre Productions industry is considered low, and will remain so over the five years through 2018-19. During 2010-11, weaker economic conditions made it difficult for companies to raise revenue, limiting the growth of larger companies and government funding increases. Conditions improved in 2011-12, particularly for popular music concerts, with steady industry growth estimated for 2012-13 and 2013-14. The industry’s major players are Opera Australia and the Australian Ballet. For more information, visit IBISWorld’s Music and Theatre Productions report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau.

IBISWorld industry Report Key Topics

Companies in this industry produce live theatrical or musical performances including concerts, opera, ballet and drama plays.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.

Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

Gavin Smith, IBISWorld, 310-490-5973, [email protected]

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