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Performing Arts

Industry Outlook

The performing arts industry in the United States is a $44 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. When there is less disposable income, spending on arts and entertainment is reduced. The industry has had slow growth since 2016, and IBISWorld projects some growth to continue through 2024, depending on the strength of the economy.

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