Performing Arts Groups NAICS 7111

Mar 21, 2025 - Broadway Attendance Increases Amid Star-Studded Shows

• Broadway has had a strong 2023-2024 season year to date with attendance up 17% year over year in its 43rd week, with more than 18 shows scheduled to open in March and April, according to Deadline. Season to date, Broadway has grossed $1,445,063,624, up 18% year over year, and reached attendance of 11,347,483, which is at 91% capacity. The average ticket price for all 31 Broadway shows was $134.96, 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. The positive results come as Broadway continues to recover four years after its nearly 18-month shutdown during Covid-19, reopening in September 2021.
• According to a report in CFO Dive, consumer confidence levels, an indicator of discretionary spending, have fallen due to consumer anxiety about tariff effects and economic uncertainty. The consumer sentiment index from the University of Michigan dropped 11% in March 2025, marking the third straight month of declines and hitting the lowest level since November 2022. In addition, the Conference Board index of consumer sentiment in February 2025 marked the biggest decline since August 2021 and the third straight month of declines. According to Stephanie Guichard, senior economist for global indicators at the Conference Board, “There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current administration and its policies dominated the responses.”

• 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 February 2025 for the eighth consecutive month, according to the Services ISM Report on Business. The Services PMI registered 53.5% in February, up 0.7 percentage points from January. Fourteen of the 18 services industries reported growth in February, including Other Services; Finance & Insurance; Wholesale Trade; Utilities; Agriculture, Forestry, Fishing & Hunting; Mining; Real Estate, Rental & Leasing; Health Care & Social Assistance; Construction; Transportation & Warehousing; Accommodation & Food Services; Professional, Scientific & Technical Services; Information; and Public Administration. Three industries reported a contraction: Management of Companies & Support Services; Retail Trade; and Educational Services. The Arts, Entertainment & Recreation industry was one of the industries that reported increases in prices paid for materials and services for the month.