$704 Billion. That's what the arts contribute to our economy

On February 16, 2016, the National Endowment for the Arts released its new report on the arts and economic growth. No surprise: They are intrinsically linked.  Following is the NEA’s press release along with their findings in infographic form.
Today’s creative economy gets a big boost from the arts, according to new data from the National Endowment for the Arts and the U.S. Bureau of Economic Analysis. The latest figures cover 1998 to 2013 and they spotlight fast-growing arts industries, export trends, employment figures, consumer data, and more. In 2013, arts and cultural production contributed $704.2 billion to the U.S. economy, a 32.5 percent increase since 1998. Another key finding is that consumer spending on the performing arts grew 10 percent annually over the 15-year period. The Arts and Cultural Production Satellite Account (ACPSA) is the first federal effort to provide in-depth analysis of the arts and cultural sector’s contributions to the economy.
“The new data show that the production of performing arts services has grown at a faster clip than arts and cultural production in general, contributing $44.5 billion to the U.S. economy in 2013,” said NEA Chairman Jane Chu. “Notably, the ACPSA reveals that Americans are choosing to spend more on performing arts events such as concerts, plays, and dance performances. This tells us that the arts remain a valuable and desirable commodity for U.S. consumers, and that the arts are a strong contributor to America’s economic vitality.”
The new estimates were adjusted for inflation, resulting in more accurate trend analysis for the 15-year period ending in 2013. Among the new findings:

  • More on the performing arts – Theaters contributed $7.1 billion, followed by music (including jazz, rock, and country bands and artists) at $4.2 billion, and symphony orchestras and chamber groups at $2.1 billion.
  • Staging economic success – Between 1998-2013, performing arts (both for-profit and nonprofit industries) – including music, theater, opera, circus, ice-skating, and magic shows – showed a combined 4.6 percent annual growth rate, well above the 1.1 percent average annual growth rate for all ACPSA commodities. In particular, over the same period, the growth rates for opera production and theater were 7.5 and 6.3 percent, respectively.
  • Show me the numbers – In 2013, arts and cultural production contributed $704.2 billion to the U.S. economy, or 4.23 percent of GDP. Arts and culture produced more than some other sectors, such as construction ($619B) and utilities ($270B). Top arts and culture industries included: broadcasting (excluding sports); motion picture industries; publishing (excluding Internet); arts‐related retail trade (such as art galleries, book stores, and music stores); performing arts companies and independent artists, writers, and performers; and creative advertising services.
  • Culture outpaces other sectors – Over the 15-year period (1998-2013), arts and cultural production grew by $165 billion or 32.5 percent. The annual growth rate for arts and culture as a whole (1.8 percent) was on par with that of the total U.S. economy (1.9 percent). But it grew faster than other sectors such as accommodation and food services (1.4 percent), retail trade (1.3 percent), and transportation and warehousing (1.1 percent).
  • Online evolution – The industry with the fastest growth in arts and culture production between 1998 and 2013 was “other information services,” a category that includes online publishing, broadcasting, and streaming services (12.3 percent). Other fast-growing industries were sound recording (9.5 percent), arts-related computer systems design (including services for films and sound recordings) (7.7 percent), and regular broadcasting (5 percent).
  • Arts employment – In 2013, arts and cultural sector employed 4.7 million wage and salary workers, earning $339 billion. Industries employing the largest number of ACPSA workers include government (including school-based arts education), retail trade, broadcasting, motion picture industries, and publishing.
  • Exporting American culture – Since 2006, U.S. arts and culture has run a trade surplus that’s grown every year (currently at $24.1B in 2013). Top 2013 arts and cultural exports were: movies and TV shows ($15.9B), arts-related software publishing (i.e. games, photo processing software) ($9.9B), jewelry and silverware ($8.1B), creative advertising ($7.1B), architectural services ($3B). Copyright-intensive types of commodities (movies, TV, arts-related software publishing and advertising) accounted for $33B or more than half of all ACPSA exports ($59.5 billion). Top export markets for movies and TV shows: the United Kingdom (22.6 percent), Canada (9.3 percent), Germany (8.8 percent), France (5.1 percent), Australia (4.8 percent), and Japan (4.2 percent).
  • America, creative powerhouse – While there’s no one way to define the creative economy, a good proxy is GDP produced by copyright-intensive industries (like broadcasting, movies, publishing, and performing arts). In 2013, arts and cultural production made up nearly half of the entire U.S. copyright‐intensive creative economy ($435B of $887B). Copyright-intensive arts and cultural production are among the fastest-growing of all ACPSA goods or services, with an average annual growth of 3.5 percent versus 1.8 percent for all ACPSA production between 1998-2013.

NEA infographic on Arts and the Economy, Feb. 16, 2016

Top image from Deep End Dance, profiled in ScreenDance Diaries.

What are you looking for?