The National Endowment for the Arts’ Art Words blog published an article on 7/6/2017 that should brighten your day; how much depends on whether you work at an orchestra or opera organization.
According to a recent report from the Arts and Cultural Production Satellite Account (ACPSA…not to be confused with ASCAP), Americans spent far more on tickets to live performing arts events in 2014 than they did in 2000.
In case you’re wondering what ACPSA is, here’s the official summary description:
The Arts and Cultural Production Satellite Account (ACPSA) is produced through the partnership between the United States Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA). Built with the BEA’s input-output (I-O) accounts, the ACPSA provides detailed statistics that illustrate the impact of arts and cultural production on the United States economy. Specifically, this account provides an assessment of the arts and cultural sector’s contributions to gross domestic product (GDP).
According to their data, spending more than doubled (adjusted for inflation) from 2000 to 2014. There were clear drops in spending following the 9/11 and Economic Downturn recessions but those rebounded with enough of an uptick to reach those spending levels.
Biggest gains came from the opera sector, which experienced 8.7 percent average annual growth rates in consumer spending revenue. At the other end of that spectrum were orchestras (both symphonic and chamber), but that’s not to say there was a decrease, instead, the aver annual growth rate was 1.5 percent.
You can find a wealth of additional info at the BEA’s ACPSA website and you won’t want to miss the mini-treasure trove of data in the Impact of Arts and Culture on U.S. Economy in 2014 news release.
Update 7/14/2017: Thanks to Victoria Hutter, NEA Assistant Director – Press and Public Affairs for getting in touch to let me know they have since updated their original post to point out that the opera category included musical theater organizations.