A new report from arts and culture think tank A New Approach (ANA) reveals that Australia’s cultural and creative industry sector earned 87 percent of its income from sales and services.

The up-to-date data dispels the myth that Australian cultural and creative industries are predominantly financed through government assistance.

New research found that our cultural and creative industries attracted an estimated $160 billion in income and investment in 2020–21, including a distribution by governments of an estimated $16.4 billion.

ANA CEO Kate Fielding said: “The lion’s share of income in cultural and creative industries is from sales and services, which includes everything from art and cultural event ticket sales and royalties from intellectual property through to cultural exports and computer software consulting fees.”

ANA CEO Kate Fielding. Photo supplied

“While these industries have been exploring effective ways to invest the available funds, we have been missing a big part of the picture – and opportunities to grow and find new sources of income and investment.”

The report, the 10th in ANA’s Insight series, also highlights new ways to assess and articulate return on investment (ROI), across short, medium and long-term time horizons.

“Explaining the...