As The Music Network’s Industrial Strength column reports, the BRW (Business Review Weekly) have released their year-end list of the Top 50 Biggest Earners In Entertainment that ranks industry figures, musicians, actors, media, filmmakers and other show biz types.
As BRW indicates it was not a strong finacial year with a combination of a weak US dollar, flagging ticket sales, and the continued squeeze of tough economic times resulting in total earnings from BRW‘s 2012 list falling 30% to $287 million.
Interestingly, the biggest music presence was not from bands and artists, but from concert promoters, as previously evidenced by US live music tracker Pollstar, who ranked Australian promoters among the world’s biggest this past October; comprising almost 10% of international ticketing sales.
While Austrlia’s live music scene has been dealt continual blows by local and state government restrictions, with live music venues experiencing a severe state of flux nation-wide as a result, the demand for international acts and major concert tours is still relatively high by comparison, placing many prominent concert promoters into the highest reaches of BRW’s Top 50 list.
The Dainty Group’s namesake, Paul Dainty, ranked at #4 on the list with estimated earnings of $13.837 million for the 2011-12 financial year. A princely sum that doesn’t even include Virgin Live, the newly forged alliance with Richard Branson to help stage The Rolling Stones’ 50th Anniversary concerts London and New York recently. Virgin Live is estimated to gross $US 25 million, while also rumoured to be extending the money-spinning Stones tour into other territories – including Australia.
Close behind was the Australian music industry’s ‘three Michaels’, with Mushroom Music Group and Frontier Touring mogul Michael Gudinski sitting at #6 with $10.489 million in earnings, followed by Michael Chugg’s Chugg Entertainment at #10 and Michael Coppel close behind at #11.
The Sydney-based Chugg Entertainment’s $8.9 million in earnings comes after a busy year that includes moving into A&R with a new business partnership, becoming the co-promoter for Homebake, and being recognised as the highest-ranking Australian promoter internationally.Interestingly, the biggest music presence was not from bands and artists, but from concert promoters.
Meanwhile Coppel’s #11 rank – with earnings of $8.6 million from promoting international pop starlets like Rihanna, Katy Perry and Taylor Swift – comes after a huge business deal earlier in the year, selling a 51% stake in his business to global promoter LIveNation in April. As BRW reports, the deal was a decade in the making, and one which Coppel says was “too good to say no to.”
Coppel stated that LiveNation giving him a sense of freedom let to his final decision. “It’s great to have international recognition,” he says. “It was pretty clear to me that I had a limited use-by date … The international players are coming and opening offices everywhere.”
Alongside LiveNation, Coppel is presenting Pink’s 42-date worldwide tour, which has already grossed $65 million in ticket sales, including a staggering 16 shows already sold and accounted for at Melbourne’s Rod Laver Arena.
Notably, Big Day Out promoter Ken West & C3 Presents also made BRW‘s Top 50, ranked at #34 with $3.11 million in earnings, a change of fortunes for the concert promoter after a less than favourable turn at the start of the year which led to the international partnership and a complete revamp of the Big Day Out brand.
The news arriving in the wake of Sydney’s Big Day Out selling out, while Perth’s leg is undergoing an enforced curfew and a cut back to set times from the local Environment Minister following local council’s ongoing complaints against the music festival.
Other promoters on the BRW list include Michael John Frost of the Gordon Frost Organisation ranked at #22 with $4.902 million in earnings, Mark James & Jason Ayoubi of Future Entertainment (#23 – $4.661 million), Garry Van Egmond (#44 – $2.117 million), and John Wall & Ming Gan of Fuzzy Entertainment rounding out the list at #49 ($1.867 million).
Promoters weren’t the only music figures to feature, with The Wiggles once again proving to be one of Australian music’s biggest success stories, clocking in at #2 on the list (behind Russell Crowe) earning approx. $17.1 million after their international tour that bids farewell to three quarters of the original lineup.
Their massive global trot taking in 141 cities across the UK, US, Canada, Hong Kong, Singapore and Australia playing a total of 2434 shows in 213 days to over 640,000 Wiggly fans; once again giving credence to The Wiggles being one of music’s most prolific touring bands (perhaps even bigger than The Rolling Stones and U2).
Other acts in the BRW Top 50 included AC/DC, raking in $8.2 million at #12, Keith Urban at #17 ($6.4 million), ‘our’ Kylie just behind at #19 with Ms Minogue scoring $5.8 million for the financial year. Followed by childrens band Hi-5 (#24 – $4.5m), The Australian Pink Floyd Show (#30 – $3.7m), the world-conquering Gotye (#41 – $2.5m), and Human Nature, the boy band still kicking on internationally to the tune of $2.3 million, ranking at #42.
