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          1. Performing Arts Companies Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 9/14/2020
            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, singers, dancers, musical groups, and other performing artists. Major companies include the Lyric Opera of Chicago, the Metropolitan Opera Association, 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 (the UK).

            Worldwide, performing arts are typically located and nurtured in large urban settings, where diverse populations may provide audiences for multiple types of entertainment. Rising middle class populations in Asia and Latin America are driving industry growth in these regions.

            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 45% of US industry revenue; contract fees, 25%; and contributions and grants, 15%. Other revenue sources include food, beverage, and merchandise sales; facility rental; membership dues; and fees for entertainer management, advertising, and endorsements.

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