|Last Quarterly Update:||4/6/2015|
|SIC Codes:||7922, 7929|
|Industry Overview||Trends & Challenges||Industry Forecast|
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Companies in this industry produce live presentations by actors, singers, dancers, musical groups, and other performing artists. Major companies include the Lyric Opera of Chicago, the Metropolitan Opera Association, and the San Francisco Symphony (all based in the US), as well as Cirque du Soleil (Canada) and The Royal National Theatre (the UK).
Worldwide, performing arts are typically located and nurtured in large urban settings, where diverse populations may provide audiences for multiple types of entertainment. Rising middle class populations in Asia and Latin America are driving industry growth in these regions.
The US performing arts industry includes about 8,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $15 billion. The industry includes about 3,000 theater companies; 200 dinner theaters; 200 opera and 500 dance companies; 4,500 musical groups and artists, including 650 symphonies and chamber music organizations; and 30 circuses.
Personal income and leisure time drive demand for performing arts. The profitability of individual companies depends on producing performances that audiences want to see and on efficient operations. Large companies have advantages in marketing, fundraising, and attracting star performers. Small companies can compete effectively by specializing in new, unique, or popular works. The US industry is fragmented: the 50 largest companies account for less than 30 percent of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major sources of revenue for the performing arts industry are admissions; entertainment contract fees; ...
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