Performing Arts Groups NAICS 7111

May 22, 2025 - Average Growth Forecast

• The US performing arts groups industry is projected to grow at a CAGR of 4.15% between 2025 and 2029, comparable to the overall economy's projected growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. Consumer confidence is expected to improve in the forecast period, which bodes well for the arts, entertainment, and recreation sector. Consumer expenditure for membership clubs, sports centers, parks, theaters, and museums drives much of the revenue for the sector. While this spending dropped severely during the pandemic lockdown, recovery has gradually occurred. Real spending for other live entertainment saw inflation-adjusted spending recover but then slip again in an uneven economy, down 9.4% in Q3 2024. A factor that may curb consumer spending during the forecast window is higher tariffs on consumer goods. Lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026.
• Arts and cultural economic activity, adjusted for inflation, grew at more than twice the rate of the total economy between 2022 and 2023, according to figures released by the US Bureau of Economic Analysis (BEA) and the National Endowment for the Arts. Arts and cultural economic activity accounted for 4.2%, approximately $1.2 trillion, of the US GDP in 2023, according to the Arts and Cultural Production Satellite Account. Real value added for total arts and cultural production industries increased by 6.6% in 2023; the performing arts sector rose 31.6% in 2023. For other core categories, performing arts presenters increased by 20.7% in 2023, followed by museums (18%) and design services (6.8%).

• Broadway has had a strong 2024-2025 season year to date with attendance up 20% year over year in its 52nd week, according to Deadline. Season to date, Broadway has grossed $1,845,375,536, and total attendance has reached 14,316,455. The average ticket price for all 40 Broadway shows was $131.81, with star-studded shows like “Othello” (starring Denzel Washington and Jake Gyllenhaal) and “Good Night, and Good Luck” (starring George Clooney) averaging over $300 per ticket. In March, “Othello” became the highest-grossing play in Broadway history, grossing $2,818,297.00 for eight performances during its second week of previews. In May, “Good Night and Good Luck” set a new record, becoming the first play to surpass a gross of $4 million in a single week. The positive results come as Broadway continues to recover four years after its nearly 18-month shutdown during Covid-19, reopening in September 2021.
• Consumer confidence levels fell in April 2025 month over month, dropping by 7.9 points, according to the Consumer Confidence Index from the Conference Board. Consumer confidence levels have fallen for five consecutive months, reaching levels not seen since the beginning of the Covid-19 pandemic, according to The Conference Board, which publishes the monthly index. In addition, the final index of consumer sentiment from the University of Michigan dropped 8% in April 2025 from the previous month, according to CFO Dive. An index measuring consumers’ expectations for the future fell nearly a third since January, the steepest three-month percentage decline since the 1990 recession. According to survey director Joanne Hsu, “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”