MUMBAI: Australia's live music industry contributed $1.21 billion to the national economy last year, according to a report by Ernst & Young.

The report states that Australia's 3904 live music venues generated $652 million in profits and wages in 2009/2010, supporting 14,806 full-time equivalent positions. NSW was the largest contributor, accounting for 32 per cent of industry revenue, followed by Queensland (24 per cent) and Victoria (22 per cent).

The study claimed to be the first of its kind in Australia, estimated 41.97 million people attended live performances across the year. Food and drink purchases at the surveyed hotels, bars, clubs, and restaurants accounted for the majority of revenue (83.3 per cent), while 16.7 per cent came from live performance ticket sales.

Australia Council for the Arts' director of music Paul Mason said, This will be invaluable in informing discussion amongst policy makers and stakeholders about how to maintain and develop this important industry....

The study was commissioned by Australian Performing Right Association (APRA) and the Australasian Mechanical Copyright Owners Society (AMCOS) in conjunction with the Australia Council for the Arts, Arts Victoria, Arts NSW and Live Performance Australia.