The Fine Arts Schools industry comprises institutions that provide recreational instruction in dance, music, theater and the visual arts to the general public, as well as a small share of nondegree-granting academic classes and training programs designed for art students and professional artists. In recent years, this industry has benefited from rising levels of per capita disposable income, which have fueled demand for fine arts classes and other discretionary industry services. Therefore, while growth has been somewhat constrained by an overall decline in federal funding for the creative arts, industry revenue has grown steadily over the past five years. Over the five years to 2022, improving levels of disposable income and corporate profit will continue to drive industry growth, though this growth will occur at a slower rate due to declining levels of government funding for the arts.
This industry includes establishments that offer instruction in the fine arts, including dance, drama, music and the visual arts. The industry does not include programs that offer academic degrees or diplomas. Commercial and graphic arts and commercial photography instruction are also excluded from this industry, as these subjects are accounted for in the Trade and Technical Schools industry (IBISWorld report 61151).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.