Performing Arts Industry Analysis
Performing arts (part of the leisure industry) are forms of the arts in which artists use their facial expression, voice and body language to communicate, generally in front of a live audience. Important functions in this industry include producing and presenting the performances and organizing, managing and promoting them. Managing and representing entertainers and providing artistic, creative and technical skills are also important performing arts businesses.
Key Market Segments
The major sectors within the performing arts industry are music, dance and drama.
Music performances include pop, jazz, classical instrumental and vocal, including opera. Of these, live music concerts are popular in most parts of the world. For instance in the USA more than 25 million people attend live music concerts each year. Other cities like Paris, Tokyo and London host more than 350 live music venues each.
Dance comes in various forms including ballet, tap, jazz, hip hop, classical etc. One or more of these forms together play a key or a supporting role in commercial and subsidized theatre such as London’s West End musicals, opera, film, live music, corporate events, variety shows and many more. The widespread use of dance in various forms makes it a well-accepted art form and for this reason the UK, for example, has more than 200 dance companies.
Drama, another popular performing art, is typically designed for theatrical performance. Major cities like New York and Paris can have more than 400 theatres. The urban Asian population also supports significant levels of theatre-based drama; Tokyo, for instance, has more than 200 theatres.
Regional Market Shares
The key geographies for the performing arts industry are the USA, Europe and Asia.
The USA performing arts industry includes more than 8000 related companies and employs more than 120,000 people, not including the large numbers of self-employed artists. The industry includes theater companies, opera and dance companies, musical groups and individual artists, and circuses. More than 75 million people in the USA express interest in theatre, according to Statista. The Lyric Opera of Chicago, the Metropolitan Opera Association and The San Francisco Ballet are some of the major live performing arts companies in the USA.
Theatre, live music and modern and classical dance are all popular forms of the performing arts in Europe. Concerts and music festivals generate most revenue for this industry in this region, which is also the locale of the most-attended international festivals. For example, over 20 million people attend live musical events in the UK. La Scala in Milan and The Vienna State Opera in Vienna are some of the best known opera and ballet houses and companies, while The Royal Shakespeare Company, The Globe Theatre in London and Paris theatre companies such as La Comédie-Française are world-famous.