The arts industry includes establishments that operate facilities or provide services for cultural, entertainment and recreational interests such as producing live performances or events, and preserving and exhibiting objects of historical interests of patrons.
The top five companies covered are Smithsonian Institution, Cirque du Soleil Inc, Paris Opera Ballet, World Wrestling Entertainment,Inc and Metropolitan Opera Association, Inc. Smithsonian Institution was the largest competitor in the arts market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global arts market was valued at around $450 billion in 2017. North America was the largest region in the arts market in 2017, accounting for over 35% market share. The USA was the largest country in the market in 2017, accounting for 30% market share.
Independent formats are offering new platforms for new talent to promote their music. Since music recording companies are often averse to taking risks with new talent, artists are making use of social media and music streaming platforms and are taking charge of their own personal marketing and distribution. Social media platforms have created a new means of connectivity and marketing opportunity for the artists.
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