The Music Board of the Australia Council commissioned a report into the Australian music recording sector to understand the needs of the sector; to assess what is required to grow the recording sector; and to explore the specific role of government in ensuring the sustainability of music recording in Australia.
The report found a consistent view amongst stakeholders that there is a real need for the federal government to play a continued role in supporting the recording sector in the production of sound recordings by Australian composers and performers across all genres and traditions.
New recording, mentoring, promotion and export initiatives were seen to be crucial in ensuring that the recording sector’s high levels of creativity are maintained and matched by a greater presence in national and overseas markets. This would require government assistance beyond existing programs.
In addition to funding programs there was a strong view that tax incentives, comparable to those offered to other cultural industries, should be available to support the production of Australian sound recordings.
The report can be found here: http://www.australiacouncil.gov.au/__data/assets/pdf_file/0007/146761/The-Music-Recording-Sector-Report-2012.pdf
The Australia Council has also instigated a pilot program which will offer grants of up to $50k to record labels to support a schedule of new releases by Australian artists. Guidelines and application forms for the grant can be found here. http://www.australiacouncil.gov.au/grants/2013/recording-initiative