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 independent artists and performing art companies is expected to reach about $333.5 billion by 2030, according to the Business Research Company.

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 $16 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 55% of the industry's revenue, followed by live performing arts performances (20%) and private contributions (20%). Other sources include government contributions, trading securities, as well as meals, snacks, and other food items.

Some organizations have started using blockchain-based mobile ticket delivery to improve security and standardize processes across channels. Companies prepare productions primarily for presentation to live audiences. ...