The House of Representatives Standing Committee on Communications and the Arts is holding a public hearing tomorrow for its inquiry into the challenges and opportunities within the Australian live music industry, focussing on insurance in the sector.
Since March 2024 the Committee has been investigating the current state-of-play within the Australian live music environment. The Committee has heard that the impact of escalating business costs in the sector—including, but not solely, increasing impediments and costs in obtaining business and event insurance cover—have posed significant challenges.
Tomorrow's hearing will take further evidence from submitters and previous witnesses, the Insurance Council of Australia and the Australian Live Music Business Council who have each considered ways to assist the sector with respect to insurance coverage. The Committee will also meet with an Australian insurance broker, H2 Insurance Solutions, which specialises in offering insurance products to the Australian live music sector.
Additionally, the Committee is interested to learn more about the organisation model and activities undertaken by Statewide Mutual. The Mutual body was created in 1993 to help reduce the risk profiles of activities undertaken by member NSW local governments and to obtain best value insurance coverage.
The Chair, Mr Brian Mitchell MP, said 'there has been a perfect storm of escalating costs and compliance for venues and events; higher chances of negative weather impacts; changing audience behaviour and alternative entertainment options. Additionally, digitisation of music and the streaming of it, whilst offering greater choice, has, through algorithms, narrowed audience music selection. This has affected artists' secondary income streams and reduced the discoverability of new artists.'
'The Committee is looking to find some practical ways of assisting the sector in a manner which helps it to be self-sustainable in a new music consumption paradigm.' Mr Mitchell said.
Details of the public hearing are below, with the full program and terms of reference available on the inquiry webpage.
