Latest News

Back to Latest News back

 

Sydney Opera House brand more valuable than Australia

Sydney Opera House brand more valuable than Australia
October 19, 2013

Australian icon the Sydney Opera House is considered internationally as a more "relevant and esteemed" brand than 'Brand Australia' itself, according to a new report by Deloitte released for the 40th anniversary its construction.

The Opera House, which contributes $775 millio to the national economy each year, where the experience of performances are valued at 38% more than ticket prices, remains the key asset in attracting tourist dollars to Australia.

Deloitte Access Economics partner and co-author of How do you value an icon?: The Sydney Opera House - economic, cultural and digital value 2013, Dr Ric Simes explains "more than half of surveyed tourists for the report from China, the USA, UK and New Zealand, said the Opera House was their main reason for visiting Sydney.

"In 2012 it drove the spending of $640 million tourist dollars in Sydney.

"As we identified in our recent 'Building the Lucky Country' report, tourism is set to double in size in the next 20 years, with Asia's expanding middle classes fuelling the growth.

"The Opera House is a key attraction for them and other visitors to Australia."

This year, the Brand Asset Valuator from advertising agency Young and Rubicam showed that the Sydney Opera House "demonstrated great brand strength and differentiation".

Among early adopters and innovators over 40 years of age, it's considered the most distinctive brand in the country, ahead of Apple's iPhone.

The report also found that for the same audience, "its uniqueness ranks second only to the brand of Australia itself".

However, internationally, it's considered as more relevant and esteemed overall than the national brand, with the Deloittes report adding "this demonstrates the critical and dynamic role Sydney Opera House plays as an aspect of Australia's international appeal now and in the future."

Deloitte partner and Chief Marketing Officer David Redhill also stated "when we're talking about brands, the Sydney Opera House is quite simply Australia's best.

"Forty years ago it was one of the biggest, bravest ideas we'd taken on as a nation, employing multiple new technologies and techniques, sourcing global design talent, and always likely to take a few government cycles to complete. Today, it's repaid the faith Australia had in it; nothing else in Australia commands the same degree of universal admiration or affection as the Opera House. The brand and economic research now backs up what many Australians have known for years."

The report also analysed the Opera House as a digital entity, finding that it currently has a significant digital footprint, with scope for even greater digital impact in the future.

Key digital findings from the Deloitte report:

• The Sydney Opera House has online digital reach of 128 million, 93% of which comes through Facebook.
• Since 2009, over 600 pieces of video content have been created, from exclusive interviews, behind-the-scenes footage, live streamed and recorded full performances to the production of award-winning music video.
• In the last financial year, 4.2 million people watched video of Sydney Opera House performances online via YouTube and the House's own Play channel.
• Based on the Deloitte research, future viewings of online performances could grow to 94 million per year.

The Deloitte report has been welcomed by pro-development lobby group the Tourism & Transport Forum (TTF), with TTF Executive Director Adele Labine-Romain saying that the value of the Sydney Opera House is significant, but not surprising.

Labine-Romain stated "as a global icon, the Sydney Opera House is a critical brand for the Australian tourism industry, attracting visitors from around the world.

"It is one of the most recognisable buildings in the world and is instantly linked with Australia by people across the globe, making a massive contribution to our national brand and identity.

"It may be the Sydney Opera House's birthday, but it's the Australian visitor economy that gets the presents.

"Contributing $775 million to the national economy every year and supporting more than 8,400 direct, indirect and tourism jobs, the Sydney Opera House is extremely valuable to the visitor economy.

"In addition, the Deloitte report estimates the Sydney Opera House's cultural and iconic value at $4.6 billion, underscoring the importance of ongoing public investment in vital improvements to ensure the Sydney Opera House remains one of the world's great venues.

"This will in turn allow the Sydney Opera House to continue to attract tourists from around the world, supporting jobs and businesses in the visitor economy.

"With the mining investment boom waning, sectors like tourism will be called on to provide the economic growth that will help deliver future prosperity for Australia and the Sydney Opera House will play a critical role."

Click here to view the Deloitte report How do you value an icon?: The Sydney Opera House - economic, cultural and digital value 2013.

10th October 2013 - TOURISM IDENTIFIED AS VITAL TO AUSTRALIA’S FUTURE PROSPERITY

2nd October 2013 - JOHN SYMOND APPOINTED NEW CHAIR OF THE SYDNEY OPERA HOUSE TRUST 

18th April 2013 - SAMSUNG ELECTRONICS AUSTRALIA BECOMES SYDNEY OPERA HOUSE’S FIRST PRINCIPAL PARTNER

26th January 2012 - SYDNEY OPERA HOUSE CHIEF QUITS TO HEAD BRIDGECLIMB SYDNEY


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Altitude Training Systems

ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help all athletes gain the competitive edge. Our…

read more

Fitness / Sport / Technology

 
 

Aussie Strength

We are Aussie Strength. The ultimate supplier for Commercial Gym Equipment that's built to deliver in the toughest environments. From USA-Built hardcore weight training equipment from Arsenal…

read more

Fitness / Technology / Wellness

 
 

Humanforce

Humanforce is a global provider of workforce management solutions for companies who need flexibility to manage complex workforces. Companies use Humanforce to manage everything from time and…

read more

Hospitality / Retail / Technology / Venues

 
 

AUSTRALIAN WATERSLIDES AND LEISURE

A leading designer and manufacturer of innovative waterslides and attractions, Australian Waterslides and Leisure (AWL) is also able to advise clients in the areas of concept and design, feasibility…

read more

Aquatics / Attractions / Play / Waterparks

 
 

Tim Batt Water Solutions

Tim Batt Water Solutions are at the very forefront of the commercial aquatic business in Australia, with over 30 years specific experience supplying and installing chemical control and dosing…

read more

Aquatics / Environment / Recreation / Technology / Venues

 
 

TICKETSERV

As of 2018, TicketServ operates as SeatGeek Asia Pacific Pty Limited, part of international ticketing platform SeatGeek. Click here to contact SeatGeek Asia Pacific via their entry in…

read more

Attractions / Entertainment / Events / Sport / Ticketing

 
 

SWIMPLEX AQUATICS

Swimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…

read more

Aquatics / Attractions / Design / Play / Waterparks

 
 

PlayRope

Playrope Aqua-Fun, are the Australian & New Zealand exclusive distributors for Vortex Aquatic Structures International, the world leader in aquatic playgrounds and urban water landscapes.…

read more

Aquatics / Attractions / Parks / Play / Recreation

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business