Performers & Creative Artists in the US - Industry Market Research Report

Performers & Creative Artists in the US - Industry Market Research Report

  • August 2021 •
  • 41 pages •
  • Report ID: 499825 •
  • Format: PDF
In the spotlight: Gains in per capita disposable income and consumer spending are anticipated to fuel industry revenue growth

Abstract

Performers & Creative Artists in the US
As part of the entertainment sector, Performers and Creative Artists industry performance is affected by per capita disposable income, which determines consumers’ ability to spend on nonessential services or goods, including art. Industry performance is also influenced by grant-making institutions (e.g. nonprofit foundations, state and local arts commissions and the National Endowment for the Arts), which fund many of the industry’s small-scale operators. Federal funding for creative arts is expected to decrease over the five years to 2019, which is expected to hamper demand for industry operators’ services. Steady growth is expected to continue over the five years to 2024, as consumers’ discretionary spending increases and the number of households with above-average income, the segment that is most likely to donate to art foundations, rises. However, external competition from other forms of entertainment and falling support for public arts departments and commissions at the state and federal levels are projected to hinder revenue growth.

The Performers and Creative Artists industry consists of independent or freelance artists, writers and performers that create artistic or cultural works or productions, in addition to individuals that provide the technical expertise necessary for these works. This industry includes celebrities that receive a fee for product endorsement and public appearances or speeches. This industry does not include musical artists (IBISWorld report 71113) or graphic design artists (54143).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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