Performing Arts

The performing arts industry in the United States is a $46.4 billion business, according to a report by the market research group IBISWorld. The report covers performers and creative artists, but does not include musicians. There was more than a 3 percent decline in growth in this industry from 2019 through 2024, due to the pandemic, the sluggish economy, and federal and state budget cuts. Performing arts had already struggled in the years prior to the pandemic, when government support and state funding fell off during the economic recession. There was small growth (about .4 percent), however, in 2024, and IBISWorld predicts the industry will continue to grow through 2030.

The coronavirus pandemic caused major disruptions in the performing arts industry in 2020 and early 2021. Nationwide quarantining policies to prevent large gatherings and protect the public's health constrained performing arts activities. Live performances as well as film and television productions were postponed or cancelled. A report by the National Endowment for the Arts, in collaboration with several other federal agencies, stated that the nature of many of the performing arts sectors entail the gathering of people, a disadvantage during the coronavirus outbreak. The entire performing arts sector was affected by the pandemic, with a steep decline in revenue that led to a steep climb in unemployment. Many performing arts companies increased their fundraising efforts to sustain their businesses. Federal, state, and local governments also initiated relief plans to aid struggling nonprofit arts organizations and workers during the pandemic. Many performing arts organizations expanded their technology and offered virtual and on-demand performances, as well as performances outdoors and in large spaces with limited audience members, in efforts to keep afloat.

Live entertainment has since returned and public demand for live shows and performances by musicians, actors, dancers, and other creative artists has bounced back to pre-pandemic levels. In addition to doing live tours, many performers and creative artists have continued to expand their use of digital platforms, such as Facebook, Instagram, YouTube, among others, to engage directly with audiences and increase their support.

Dancers will have 6 percent employment growth, faster than the average, through 2033, according to the Department of Labor. Most of the job opportunities will be with smaller dance companies and with companies that hold professional dance competitions. More jobs may also be available with touring dance companies. Opportunities will be best in large cities like New York, Las Vegas, and Chicago. Social media has also given dancers as well as choreographers another outlet for reaching larger, more diverse audiences and growing their interest in dance performances. Dancers may also find work with theme parks, in television and movies, and as judges in dance competitions. Many people are interested in working as professional dancers and choreographers, however, so competition for most dance jobs will continue to be intense. Dancers who have attended well-know dance schools or conservatories will have an edge in the job market.

The U.S. musical groups and artists industry is a $6.7 billion business, as reported by IBISWorld. This industry includes musicians, recording artists, and songwriters who perform in front of live audiences and/or in recording studios. Over the years 2015 to 2020, the industry had 1.4 percent annualized market size growth, but from 2019 through 2024, the industry declined at an annual rate of 3.5 percent. In 2024 alone, however, things started to turn around, with a 3 percent increase in revenue in the industry as the economy rebounds post pandemic. IBISWorld projects the musical groups and artists industry will continue to grow from 2025 through 2030. According to the report, "Artists will boost album sales by releasing variants and special editions. A resurgence in consumer spending and heightened interest will lead to more album sales. Concert promotion will play a vital role in this trend, as live shows remain a crucial revenue stream."

Employment growth for musicians and singers is expected to be slower than the average through 2033, according to the Department of Labor. Competition for jobs will be fierce. Orchestras, operas, and other musical companies usually have difficulty getting funding, so there is usually minimal employment growth with these types of groups. Nonprofit music organizations may offer more opportunities for work, but during economic recessions they too face challenges in getting funding. The growth of digital downloads and streaming platforms has made it easier for people to access music recordings and performances. It’s also made it easier for musicians and singers to publicize their work, to gain more fans, and boost attendance at their live performances.

There will average job growth (about 5 percent) for actors through 2033. Video on demand and online television and streaming services are creating new content and production companies will need actors for these shows. Slow employment growth is expected for actors who work in performing arts companies though, due to funding constraints. More job opportunities will be with large theater companies, which have more stable budgets than those of small and medium-sized theaters. Actors will continue to face intense competition for roles. For stage roles in particular, actors who have a bachelor’s degree in theater may have the better chances of landing work than those who don’t.

Michael Kaiser, former president of the John F. Kennedy Center for the Performing Arts, predicted that the performing arts industry will continue to face challenges in the coming years, per an American Theatre article regarding his book Curtains? The Future of the Arts in America.According to Kaiser, “The arts are not unpopular—they have simply grown too expensive.” To offset the production and personnel costs, performing arts companies continue to raise their ticket prices, which further limits the number of people who can afford the tickets. Kaiser predicted that by 2035, more people will be streaming live events in their homes rather than attending them in person; this will be due to the continued growth of digital delivery methods as well as the continued increase in ticket prices for live performances. Demand for large-scale productions will be strong in the future, however, and large, well-known organizations will continue producing shows to meet this demand. The best bet for small and mid-sized performance arts companies to survive is to be creative and produce interesting shows, stay flexible and open to technology, and pay attention to young audiences.