Competitive sport: The popularity of sporting stadiums has constrained revenue growth

Revenue for the Performing Arts Venues industry has increased modestly over the past five years, as a result of subdued growth in demand from music and theatre production companies and rises in household discretionary income. Fluctuations in government funding and increased external competition have limited industry revenue growth. Although the growing popularity of contemporary music concerts has boosted demand for venues, industry operators have faced increasing competition from large-scale sporting stadiums and arenas for big-name artists, along with pubs and nightclubs that cater for smaller gigs and up-and-coming musicians. Furthermore, demand from more traditional performing arts, such as ballet and classical music, has declined over the past five years...read more.

Industry Statistics & Market Size
Revenue
$561m
Annual Growth 12-17
1.6%
Forecast Growth 17-22
Profit
Employment
4,816
Businesses
701

Industry Threats & Opportunities

  • Operators have faced increasing competition from sporting stadiums and arenas
  • Venues have increased their free community activities to stimulate interest in the industry
  • Industry players are anticipated to continue being affected by intensifying external competition
  • Industry Report - Industry Key Buyers Chapter

    The Performing Arts Venues industry has moderate market share concentration. The industry is characterised by a few large well-known venues, with the four largest players accounting for approximately 60% of industry revenue in 2016-17. Over the past five years, these larger operators have typically outperformed the overall industry due to recurrent government expenditure and strong brand recognition among consumers. As a result, market share concentration has increased over the same period. Over the next five years, government budgetary constraints are expected to limit industry funding. While larger operators are likely to overcome the negative effects of reduced funding, smaller operators are forecast to be at a disadvantage. Thi...purchase to read more.

    Additional Insights for the Performing Arts Venues Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Performing Arts Venues Industry are

  • Proximity to key markets
  • Ability to accommodate environmental requirements
  • Effective product promotion
  • IBISWorld analysts also discuss how external factors such as Demand from music and theatre productions and Government funding for heritage and arts in the Performing Arts Venues industry impact industry performance..

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    What's in this report

    What is the Performing Arts Venues Industry?

    The industry operates performing arts venues.

    Industry Products
  • Theatre services and production equipment hire
  • Venue rental
  • Food and beverage services
  • Ticketing services
  • Tourism
  • Car park operations
  • Industry Activities
  • Operating entertainment centres
  • Operating concert halls
  • Operating opera houses
  • Operating performance theatres (except motion picture cinemas)
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from music and theatre productions
  • Government funding for heritage and arts
  • Real household discretionary income
  • Average weekly hours worked

  • Current Performance
  • Demand trends
  • Competition
  • Government funding
  • Expanding services
  • Chart: Revenue Growth

  • Industry Outlook
  • Funding models
  • Future challenges
  • Competition and

    new markets

  • Table: Performing Arts Venues Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Performing Arts Venues Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Music and Theatre Productions

  • Key Selling Industries
  • Audio Visual Electronic Equipment Manufacturing
  • Catering Services
  • Commercial and Industrial Building Construction
  • Electric Lighting Equipment Manufacturing

  • Products & Services
  • Theatre services and production equipment hire
  • Venue rental
  • Ticketing services
  • Food and beverage services
  • Tourism
  • Car park operations
  • Other
  • Chart: Performing Arts Venues Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Popular music providers
  • Households and businesses
  • Other performing arts organisations
  • Theatre companies
  • Musical and opera production companies
  • Dance companies
  • Classical music providers
  • Chart: Major Market Segmentation for the Performing Arts Venues Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Performing Arts Venues

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Performing Arts Venues Industry

  • Industry Globalization
    Sydney Opera House Trust, Victorian Arts Centre Trust, Queensland Performing Arts Trust, Adelaide Festival Centre Trust,
  • Table: Sydney Opera House Trust - financial performance
  • Table: Victorian Arts Centre Trust - financial performance
  • Table: Queensland Performing Arts Trust - financial performance
  • Table: Adelaide Festival Centre Trust - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Performing Arts Venues Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Performing Arts Venues Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Box Office
  • The desk at the front of an arts venue where tickets are sold.
  • Eisteddfod
  • A competitive festival for art performances, such as music or poetry.
  • Qtix
  • A ticketing service company operated by the Queensland Performing Arts Centre.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Performing Arts Venues market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Performing Arts Venues:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Performing Arts Venues market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Performing Arts Venues, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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