Performing Arts Companies
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 industry is labor-intensive: average annual revenue per worker is about $100,000.
Opportunities
New Audiences - Opportunities exist to develop new audiences, especially as the population ages and retirees become the fastest-growing segment. Attendance at live rehearsals and special daytime performances,...
Business Challenges
Competition for Consumer Spending - As a discretionary spending item, attending performances depends on personal income and competes for the consumer dollar with other entertainment and pastimes. Primary competition for...