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        Performing Arts Companies Industry Profile

        Report Page Length: 10-12
        Last Quarterly Update: 10/11/2021
        SIC Codes: 7922, 7929
        NAICS Codes: 7111
        Chapters Include:
        Industry Overview Trends & Challenges Industry Forecast
        Quarterly Industry Update Call Prep Questions Website & Media Links
        Business Challenges Financial Information Glossary & Acronyms
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        Excerpt from Performing Arts Companies Industry Profile

        Companies in this industry produce live presentations by actors, dancers, musical groups, and other performing artists. Major companies include the Lyric Opera of Chicago, the Metropolitan Opera, The Public Theater, and the San Francisco Symphony (all based in the US), as well as Cirque du Soleil (Canada) and The Royal National Theatre (UK).

        The global market for the independent artists and performing art companies is about $200 billion in 2021 at a 16.2% compound annual growth rate (CAGR) and is expected to reach about $250 billion in 2025 at an 8% CAGR, according to Research and Markets.

        The US performing arts industry includes about 9,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $17 billion.

        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 US industry is fragmented: the 50 largest companies account for about 30% of revenue.

        PRODUCTS, OPERATIONS & TECHNOLOGY

        Admissions account for about 50% of US industry revenue; contract fees, about 25%; and contributions and grants, about 20%. Other revenue sources include food, beverage, and merchandise sales; facility rental; membership dues; and fees for entertainer management, advertising, and endorsements account for about ...

         
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