After the nostalgia of the 25th ARIA Awards when national treasures Kylie Minogue and The Wiggles were inducted into the Hall Of Fame, this year's ARIA ceremony is set to usher in a new era of Australian music.
The industry's ever-evolving 'night of nights' has found a new home at Sydney Entertainment Centre, promising an informal, Grammys-style affair as record labels and industry figures wipe their brow following a difficult decade.
The ARIA board has been quick to highlight the success of Australian artists over the past 12 months, and not just Gotye (pictured) whose single, Somebody That I Used To Know, has topped charts in 18 countries and sold nearly 12 millions copies worldwide.
Homegrown artists have also been topping the ARIA charts in numbers not seen since 2007; five number one singles from acts including Reece Mastin, Guy Sebastian and Karise Eden, and seven number one albums from the likes of Missy Higgins and Hilltop Hoods.
In the past year Australia has overtaken Canada, a country with a far bigger population, to emerge as the sixth largest music market in the world. Bands such as The Jezabels to The Temper Trap have been building impressive fan bases overseas.
Several streaming services launched locally, like Spotify and MOG, have offered a legitimate way for fans to access music and a lifeline to record labels hammered by the onslaught of illegal downloading.
While a leaner approach to this year's ARIA Awards could be viewed as penny pinching - finger food has replaced the lavish meals for the industry's elite - the presence of international superstars Taylor Swift and Nicki Minaj suggests otherwise.
Is there a sense the Australian music industry is seeing light at the end of the tunnel?
"I think that's a good way of looking at it," says Dan Rosen, CEO of ARIA.
"The industry has gone through big changes over the last decade but it feels like an incredible amount of energy and optimism has returned in the past twelve months.
"There's a real sense that Australian music has got a spring in its step again and the ARIA Awards will be a celebration of that."
Thursday's awards show crowns the first ever ARIA Week which features a series of performances, panel discussions and conferences designed to position Sydney as a music centre and attract industry figures from key markets.
It also ties in with the first Electronic Music Conference. Shows have featured established artists such as Jessica Mauboy and Bertie Blackman to future stars Alpine, The Rubens and Art Of Sleeping.
For Blackman, ARIA Week has added an extra dimension to an awards format that has been pulling out all stops to engage with new audiences through social media and handheld devices, as well as the traditional TV medium.
"ARIA Week has put a new spin on something we've been doing for some time which is celebrating Australian music," she says.
"The industry has become such an online game that it's important for that kind of engagement with audiences - and for a bunch of bands to build the excitement towards the big night."
The ARIA Awards take place on Thursday at the Sydney Entertainment Centre.
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