A Profile Of The Performing Arts Industry [Paperback]

The performing arts include music, theater, and dance and reflect some of humankind's most basic activities. Even our Paleolithic forebears engaged in story-telling and music-making; bone flutes more than 35,000 years old have been found. That these instincts evolved into the works of Euripides and Shakespeare, Bach and Beethoven, is one of civilization's great achievements. Yet performing arts companies today, which present both classic and contemporary works for live audiences, face business challenges at least as great as any other industry. There are about 9,000 performing arts companies in America, generating about $14 billion in revenue according to the last economic census (2007).The industry is fragmented: 77% of the companies have revenues of less than $1 million, only 3% exceed $10 million, and the 20 largest companies account for only 20% of industry revenue. There are two distinct sectors that differ by genre, mission, and tax status: for-profit companies, accounting for $8 billion of industry revenue, and not-for-profits, accounting for $6 billion. This book will give lovers of the performing arts an understanding of the backstage realities that make live performances possible. Prospective board members, managers, and performers will be better equipped to take on the challenges their companies face. Business analysts and students will discover how well economic and managerial frameworks apply in this unique setting where culture and commerce converge.