Industry Analysis & Industry Trends
Demand for music and theatre productions is dependent on growth in real household disposable income, which is affected by movements in general employment growth, interest rates and taxes. Industry performance is dependent on the proportion of expenditure that consumers are willing to allocate to cultural events and activities. Levels of art appreciation, education and training are also important to industry growth. The industry is sensitive to public and private financial support, including sponsorship, which fluctuates due to economic changes.
IBISWorld forecasts that the Music and Theatre Productions industry will generate revenue of $1.32 billion during 2012-13, up 4.1% on the previous year... purchase to read more
Industry Report - Industry Analysis Chapter
IBISWorld estimates that the Music and Theatre Productions industry will generate revenue of $1.32 billion in 2012-13, a 4.1% increase on the previous year. This industry is sensitive to changes in household disposable income, which are directly influenced by unemployment and tax and interest rate changes. Government grant funding and business donations keep producers afloat.
The number of major music concerts and productions held has increased in the past few years due to improved economic conditions and a greater number of bands wanting to perform. These popular music events have continued to attract large audiences and command higher ticket prices... purchase to read more