|Last Quarterly Update:||10/17/2016|
|SIC Codes:||79 , 84|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry sector produce or promote live entertainment and other events, operate amusement and leisure activity facilities, or preserve and exhibit objects and sites of historical or cultural significance. Major companies and organizations include Creative Artists Agency (CAA), Las Vegas Sands, Live Nation Entertainment, the New York Yankees, the Smithsonian Institution, and Walt Disney Parks and Resorts (all US-based); as well as Cirque du Soleil (Canada); Galaxy Entertainment (Hong Kong); the Louvre (France); Real Madrid (Spain); and UK-based IGT, Merlin Entertainments, and William Hill.
Globally, major segments within the arts, entertainment, and recreation sector include gambling (about $450 billion in worldwide revenue); health and fitness centers ($85 billion); spectator sports ($80 billion); and amusement parks ($30 billion). Countries accounting for the largest shares of global spending on recreation and culture include the US, China, Japan, the UK, and Germany, according to the World Bank.
The US arts, entertainment, and recreation sector includes about 125,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $235 billion.
Demand is driven by consumer spending and leisure time, as well as demographics. The profitability of individual companies depends on efficient operations and effective marketing. Large companies have advantages in purchasing and access to capital needed to construct leisure and recreation facilities. Small companies can compete effectively by catering to local tastes or offering unique experiences. The ...
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