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Performing Arts

Industry Outlook

The performing arts industry in the United States is a $35 billion business, according to a report by the market research group IBISWorld. The report included actors and dancers but not musical artists. Growth was slow in the industry from 2011 through 2016, with only 1.8 percent annual growth in that time period due to the sluggish economy and federal and state budget cuts. American Theatre reported that during the economic recession, local government support for the arts dropped by 18 percent, and state funding fell 27 percent. The recession forced many people to tighten their wallets. When there is less disposable income, spending on arts and entertainment is reduced. The outlook is brighter through 2020, however, as the economy is growing stronger and performing arts budgets improve.

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