Performing Arts Groups
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 9,500 performing arts groups in the US produce live presentations by a variety of artists, including actors, singers, dancers, and musical groups. The industry includes theater companies and dinner theaters; dance companies; musical groups and artists; and other types of performing arts groups. Major revenue sources include admission fees; contracts for performances; contributions, gifts, and grants; and investment income.
Competition From Alternative Entertainment
Performing arts groups compete with a variety of alternative forms of entertainment, including movies, television, sporting events, and digital media.
Industry size & Structure
The average performing arts group operates out of a single location, employs about 14 workers, and generates $1.7 million annually.
- The performing arts industry consists of about 9,500 groups that employ 134,000 workers and generate about $16.2 billion annually.
- The industry is fragmented; the top 50 companies account for 32% of industry revenue.
- The majority of firms operate within a limited geographical market. Large organizations include the Metropolitan Opera Association, the "Big Five" orchestras (New York Philharmonic, Boston Symphony Orchestra, Chicago Symphony Orchestra, Philadelphia Orchestra, and Cleveland Orchestra), Feld Entertainment (Ringling Brothers), and Cirque du Soleil based in Canada.
- Theater companies account for about 36% of firms and 48% of industry revenue. Musical groups and artists account for about 54% of firms and 37% of industry revenue. Dance companies and other groups account for about 10% of firms and 5% of industry revenue.
- New York City is considered the center of the US theater industry.
Industry Forecast
Performing Arts Groups Industry Growth
Recent Developments
Jan 21, 2025 - Revenue Up in Q3
- Total revenue for performing arts companies in Q3 increased 4% compared to a year ago and rose 27.1% compared to the previous quarter, according to the latest data from the Census Bureau. Employment by performing arts groups rose 1.5% in October 2024 compared to a year ago, according to data from the BLS. Average wages for nonsupervisory employees in the industry fell 2.3% in October 2024 year over year, reaching $35.26 per hour.
- A new study shows high engagement in the arts by Americans but reflects a sense that not all people in their community have equal access to the arts, according to a new study conducted by Ipsos Public Affairs on behalf of Americans for the Arts. The “Americans Speak Out About the Arts in 2023” survey found that nearly 80% of Americans attended, visited, or watched an arts or culture event in person over the past year, with 76% of Americans considering arts and culture personally important to them. The survey also showed that 92% think every student should have access to a quality arts education, but only 52% think students have sufficient opportunities to take art classes. A majority also support government funding for the arts, with 70% supporting local investments, 66% supporting state investments, and 66% supporting federal investments in nonprofit arts organizations and community-based art programs, per the survey.
- Economic activity in the services sector expanded in December 2024 for the sixth consecutive month, according to the Services ISM Report on Business. The Services PMI registered 54.1% in December, up 2 percentage points from November. Nine of the 18 services industries reported growth in December, including the Arts, Entertainment & Recreation; Retail Trade; and Wholesale Trade industries. The Arts, Entertainment & Recreation industry was one of the industries that reported increases in business activity, new orders, inventories, and order backlogs for the month.
- Consumer confidence levels declined in December 2024, falling by 8.1 points from the previous month, according to The Conference Board. The Consumer Confidence Index was 104.7 in December 2024 from 112.8 in November 2024. Dana Peterson, chief economist at The Conference Board, noted that those remaining most confident on a six-month moving average basis confidence were those aged under 35 and those in the income category of over $100,000. Per Peterson, “The recent rebound in consumer confidence was not sustained in December as the Index dropped back to the middle of the range that has prevailed over the past two years.” Purchasing plans for homes decreased while plans to buy new cars and big-ticket items rose in December 2024 on a six-month average basis.
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