Australian Recording Industry Association (ARIA) and Phonographic Performance Company of Australia (PPCA) welcome the confirmed funding of Music Australia announced in tonight’s Federal Budget.
ARIA and PPCA CEO, Annabelle Herd, said: “The confirmation of funding for Music Australia announced in the Federal Budget is another step toward establishing the much-needed infrastructure to support Australian artists and music industry professionals, while helping realise the true commercial potential for Australian music. However, we need to keep things moving.
“Australia remains a top 10 market globally, and our recording industry exceeded the growth rate of both the US and UK markets in the 2022 IFPI sales data, but this growth is stemming from the consumption of an older music catalogue and artists who are largely internationally based.
“The issue still remains that our most successful artists must move overseas to achieve an enduring career as investment in Australian recording artists is becoming increasingly financially unviable for both major and independent labels. The Australian music ecosystem will not work if labels are not continuously investing in new Australian artists, but at the moment the numbers are not stacking up, and the costs of promotion, music videos, travel and other essential support are simply not being covered by earnings.
“The Albanese Government’s recognition of this through the funding of Music Australia is a step to help Australian music export and audience development. It is also critical if we are to change this narrative, particularly as we face a crisis in the discovery of new Australian music, with 100,000 new songs uploaded to streaming services every day.
“Breaking an artist and finding an audience in Australia has never been more difficult, something we are hearing from all labels operating in this country, and seeing it directly evidenced in the lack of new Australian singles in the ARIA charts.
“Against that backdrop, there is an urgent need to see this funding applied to the establishment of Music Australia. We must see it up and running as soon as possible, and it needs a bold agenda and to get on with the job. We need to be ambitious, and we need to execute well. We cannot afford to get this wrong.
“We are calling for an urgent strategic focus and a five-year plan to rebuild Australian music. We need a commercial focus on discovery, export and investment in artists with proven potential. This also includes addressing urgent and critical issues in skills shortages that will require additional funding, and the means to improve revenue streams to artists, like the removal of radio caps from the Copyright Act.
“We thank the Albanese Government for acknowledging the need for greater support of Australian commercial music as a business that is facing key issues surrounding discoverability and export. We
also thank the government for committing to cultural change through funding for the Centre for Arts Workplaces and Support Act, as well as their commitment to diversity in the arts with First Nations programming and funding initiatives. We look forward to working closely with all parties to ensure Australian music is given the best possible chance for recovery in the immediate term.”