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 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.
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 arts market is segmented into Independent Artists and Performing Art Companies, Sports and Arts Promoters And Museums, Historical Sites, Zoos, and Parks.
Independent Artists And Performing Art Companies include individual actors, actresses, entertainers, music groups or artists, entertainment groups, dance groups, concert artist and other stage performing groups or artists.
Sports and Arts Promoters include theater, dance, opera, traditional performing arts, visual arts, exhibitions and cultural events and all other live theatrical productions and performances.
Museums, Historical Sites, Zoos, and Parks industry works on preservation and exhibition of objects, historical sites, natural wonders, botanical gardens, zoos, parks and other institutions of cultural or educational significance.