(Australian Associated Press)
Some of Australia’s biggest music exports including Flume, Sia and Sheppard are helping drive a major growth in independent music sales.
A study commissioned by the Australian Independent Record Labels Association has found independent labels represent 30 per cent of recording revenue in Australia.
Independent sales made more than $154 million in the 2014/15 financial year, with 57 per cent of that revenue generated by or attributable to Australian artists, the research shows.
The study found more than two thirds of the artists contracted to Australian independent record labels are Australian.
Other local heavy hitters such as Bliss n Eso, Vance Joy, Gotye and Meg Mac are also among the artists contributing to the 6000 singles and albums released by indie artists in 2014/15.
“This is truly a benchmark report that serves as the first indicator of the enormous cultural and fiscal value the Australian independent recording sector contributes to the Australian economy,” Maria Amato the general manager of AIR said.
AIR engaged Deloitte Access Economics to analyse the market share of the independent music sector in Australia and will present the findings in a report, titled AIR Share: Australian Independent Music Market Report at the BIGSOUND music conference in Brisbane.