As part of the entertainment sector, the Performers and Creative Artists industry performance is affected by per capita disposable income, which determines consumers' ability to spend on nonessential services or goods, including art. Industry performance is also influenced by grant-making institutions (e.g. nonprofit foundations, state and local arts commissions and the National Endowment for the Arts), which fund many of the industry's small-scale operators. Though federal funding declined, consumer spending has rebounded in the postrecessionary environment, which has driven people to spend and donate more on entertainment. Steady growth is expected to continue over the next five years to 2022, as consumers' discretionary spending increases and the number of households with above-average income, which are most likely to donate to art foundations, rise. However, external competition from other forms of entertainment and falling support for public arts departments and commissions at the state and federal levels are projected to hinder revenue growth.
This industry consists of independent or freelance artists, writers and performers who create artistic or cultural works or productions, as well as individuals who provide the technical expertise necessary for these works. This industry includes celebrities who receive a fee for product endorsement and public appearances or speeches. This industry does not include musical artists (IBISWorld report 71113) or graphic design artists (54143).
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.