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Arts, Entertainment & Recreation Sector Report Summary

SIC Codes: 7911 7922 7929 7933 7819 7389 7011 5812 4493 7941 8412 7999 7996 7993 7992 7991 7948
NAICS Codes: 712120 712130 712190 713110 713120 713210 713290 713910 713920 713930 713940 713950 713990 721120 712110 711510 711410 711320 711310 711211 711212 711219 711190 711130 711120 711110
 

Arts, Entertainment & Recreation Sector Industry Overview

Excerpt from Arts, Entertainment & Recreation Sector Report

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 include Live Nation Entertainment, the Smithsonian Institution, and Walt Disney Parks and Resorts (all US-based), as well as GTECH (Italy) and William Hill (UK).

Competitive Landscape

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 US industry is highly fragmented: the top 50 companies account for about 20 percent of revenue.

Products, Operations & Technology

Major revenue sources within the arts, entertainment, and recreation sector include admissions to live performances and sporting events (about 13 percent of industry revenue), table wagering and gaming (12 percent), fitness and recreation center services (8 percent) and golf courses and country club services (7 percent). Other sources of revenue include amusement parks and arcades, museum and gallery admissions, and agent and talent manager fees.