• Mon. Mar 20th, 2023

Data: Arts, culture add $1trn to US economy


Mar 17, 2023

The National Endowment for the Arts (NEA) and the Bureau of Monetary Evaluation (BEA) have released facts that demonstrate the considerable contribution of the arts and cultural industries to US GDP in 2021 though also capturing the continued impact of the pandemic on the sector.

The Arts and Cultural Production Satellite Account (ACPSA) tracks the annual monetary worth of arts and cultural production from 35 industries—including each and every industrial and non-profit entities. The 2021 facts pinpoint the national and state-level contributions of the arts and cultural sector to the nation’s economy right away right after the initially year of COVID-19.

Evaluation shows that though the total monetary worth added by arts and cultural industries grew by 13.7 per cent from 2020-2021, a quantity of core arts industries did not return to pre-pandemic production levels. This group incorporates independent artists (as an industry), performing arts organisations (e.g., theatre, dance, and opera organizations, music groups and circuses), and arts-linked constructing, amongst many other men and women. Regardless of setbacks for these industries, the common arts economy in 2021 represented 4.4 per cent of GDP, or just much more than $1. trillion (€938bn) – a new larger-water mark.

Additionally, in 2021, just beneath 4.9 million workers have been employed to make arts and cultural goods and options, which is substantially significantly less than the 2019 (pre-pandemic) level of 5.two million but added than the 2020 level of 4.six million workers.

“This annual report from the NEA and BEA underscores that arts and culture are an required element of the American economy. It is similarly apparent, nonetheless, that the sector nonetheless faces tremendous hardships due to COVID-19,” stated NEA Chair Maria Rosario Jackson, PhD. “Because the facts reflect the monetary activity of non-profit and for-profit organisations alike, it is important to recognise the distinctive contributions each and every make in producing certain a vibrant and expansive arts and cultural sector.”

Highlights from the National Report—Arts and Cultural Monetary Activity

Amongst 2020 and 2021, the total monetary worth added by arts and cultural industries grew by 13.7 per cent. This surpasses the increase of the total US economy, which grew by 5.9 per cent in the identical period.

In terms of monetary activity, 22 of the 35 arts industries returned to or exceeded pre-pandemic levels. Online publishing and streaming options, for the initially time, is the largest arts and cultural industry in the U.S. it grew by 27.3 per cent from 2020 to 2021, for a total monetary contribution of $171.3 billion (adjusted for inflation). Composed largely of for-profit establishments, it was also the only arts industry to encounter considerable improvement in 2020. (According to 2020 facts from the U.S. Census Bureau’s County Business enterprise enterprise Patterns, only 18 per cent of establishments in this industry are non-profit.) The industry incorporates net publishing and broadcasting, music archives, film archives, comic syndicates, and news photo distribution options.

Other industries that saw improvement from 2019 and 2020 incorporated classic and computer software plan publishing, arts retail, inventive marketing and advertising, specialised style and style options, and non-government-run museums.

The motion image industry returned to the pre-pandemic (2019) level—it contributed virtually $68.9 billion in 2021, right away right after a 14 per cent dip in 2020. Performing arts presenters (such as performing arts venues and festivals) contributed just much more than $14.3 billion to the economy (a 122 per cent rise from 2020), bringing the industry slightly much more than the 2019 level.

Ten industries saw gains in 2021 but have not returned to 2019 levels. This group incorporates independent writers, artists, and performers performing arts organisations theatrical ticket agencies musical instrument suppliers and fine arts education (excluding public schools).

Two industries that saw persistent declines from 2019 by way of 2021 are arts-linked constructing, such as the constructing and renovation of libraries, museums, and other cultural facilities and philanthropic options, which incorporates grant-producing and offering.

Highlights from the National Report—Arts and Cultural Employment

ACPSA also tracks employment in arts and cultural industries. In 2021, just beneath 4.9 million workers have been employed to make arts and cultural goods and options, for $504.two billion in total compensation. This is nonetheless substantially significantly less than the 2019 (pre-pandemic) level of 5.two million jobs. Amongst the arts and cultural industries that have been the hardest hit in 2019—motion images, performing arts organisations, and performing arts presenters—many showed considerable improvement in jobs from 2020 to 2021, but did not return to pre-pandemic employment levels.

The quickest-expanding arts and cultural industry from 2020 to 2021—in terms of employment—was motion images, which saw a 23 per cent increase (up to 326,000 workers) from the preceding year. In 2019, nonetheless, the industry employed 394,000 workers.

The quantity of workers employed by performing arts-linked industries—including performing arts organisations performing arts presenters agents or managers and independent artists, writers, and performers—grew by 14.4 per cent in 2020-2021, up to 230,000 workers. On the other hand these industries employed a total of 323,000 workers in 2019.

The ACPSA figures on industry employment exclude self-employed workers, who nonetheless contribute to the monetary worth reported for all arts and cultural industries. Earlier NEA evaluation has shown repeatedly that artists in certain are far added almost certainly than other workers to be self-employed.

Highlights from the National Report—Imports and Exports

The ACPSA also delivers insights into the imports and exports of arts and cultural goods and options. The arts and cultural trade surplus shrank in 2021—$17.eight billion, compared with $28.5 billion in 2020 and $31.5 billion in 2019. The 2020-2021 distinction was due partly to a larger import worth for arts and cultural goods and options than in prior years.

Prime imports in 2021 incorporated jewellery and silverware ($20.six billion), other manufactured goods such as glass and china ($11.4 billion), and audio/visual production options for Tv and films ($9.7 billion). In 2021, lead arts export commodities incorporated inventive marketing and advertising ($19.3 billion in exports), particulars options such as audio/visual production for Tv and films ($14.4 billion), and arts‐related computer software plan publishing ($9.9 billion).

Highlights from the State-Level Report

In spite of the truth that 49 states have observed increases in arts and cultural employment from 2020 to 2021, no state has reached its 2019 level.

The ACPSA state-level dataset shows that involving 2020 and 2021, just about each and every state and the District of Columbia saw improvement in worth added to their economies from arts and cultural industries, with 31 states and DC displaying at least a ten per cent increase in the arts as a share of gross state resolution (GSP). In the case of 47 states and DC, the monetary worth from arts and culture surpassed 2019 levels.