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Performing Arts Companies
First Research, Nov 2011, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US performing arts industry includes about 9,000 companies with combined annual revenue of about $14 billion. Major companies include the Metropolitan Opera Association; San Francisco Symphony; and Boston Symphony Orchestra. The industry is fragmented: the 50 largest companies account for less than 30 percent of revenue. Two-thirds of year-round performing arts companies have annual revenue under $500,000.
The industry provides live entertainment and includes about 3,000 theater companies; 200 dinner theaters; 200 opera and 600 dance companies; 4,600 musical groups and artists, including 850 symphonies and chamber music organizations; and 60 circuses. The industry doesn't include firms that primarily promote shows, sell tickets, or produce recorded entertainment.
COMPETITIVE LANDSCAPE
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 industry is labor-intensive: average annual revenue per worker is about $100,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major sources of revenue for the performing arts industry are admissions; entertainment contract fees; private contributions; royalty, licensing, and residual fees; and government grants. Admissions account for 40 percent of industry revenue; contract fees, 25 percent; and private contributions, 15 percent. Other revenue sources include food, beverage, and merchandise sales; facility rental; membership dues; and fees for entertainer management, advertising, and endorsements.
Performing...
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The Performing Arts Directory 2011 Edition
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