Information: Arts, culture add $1trn to US economy
The National Endowment for the Arts (NEA) and the Bureau of Financial Evaluation (BEA) have released information that demonstrate the important contribution of the arts and cultural industries to US GDP in 2021 although also capturing the continued effect of the pandemic on the sector.
The Arts and Cultural Production Satellite Account (ACPSA) tracks the annual financial worth of arts and cultural production from 35 industries—including each industrial and non-profit entities. The 2021 information pinpoint the national and state-level contributions of the arts and cultural sector to the nation’s economy following the very first year of COVID-19.
Evaluation shows that although the total financial worth added by arts and cultural industries grew by 13.7 per cent from 2020-2021, quite a few core arts industries did not return to pre-pandemic production levels. This group involves independent artists (as an business), performing arts organisations (e.g., theatre, dance, and opera providers, music groups and circuses), and arts-associated building, amongst a lot of other individuals. In spite of setbacks for these industries, the general arts economy in 2021 represented four.four per cent of GDP, or just more than $1. trillion (€938bn) – a new higher-water mark.
In addition, in 2021, just below four.9 million workers have been employed to generate arts and cultural goods and solutions, which is significantly less than the 2019 (pre-pandemic) level of five.two million but far more than the 2020 level of four.six million workers.
“This annual report from the NEA and BEA underscores that arts and culture are an vital aspect of the American economy. It is similarly apparent, nevertheless, that the sector nevertheless faces tremendous hardships due to COVID-19,” stated NEA Chair Maria Rosario Jackson, PhD. “Because the information reflect the financial activity of non-profit and for-profit organisations alike, it is crucial to recognise the distinctive contributions each make in guaranteeing a vibrant and expansive arts and cultural sector.”
Highlights from the National Report—Arts and Cultural Financial Activity
Amongst 2020 and 2021, the total financial worth added by arts and cultural industries grew by 13.7 per cent. This surpasses the improve of the total US economy, which grew by five.9 per cent in the exact same period.
In terms of financial activity, 22 of the 35 arts industries returned to or exceeded pre-pandemic levels. Internet publishing and streaming solutions, for the very first time, is the biggest arts and cultural business in the U.S. it grew by 27.three per cent from 2020 to 2021, for a total financial contribution of $171.three billion (adjusted for inflation). Composed largely of for-profit establishments, it was also the only arts business to expertise important development in 2020. (According to 2020 information from the U.S. Census Bureau’s County Small business Patterns, only 18 per cent of establishments in this business are non-profit.) The business involves web publishing and broadcasting, music archives, film archives, comic syndicates, and news photo distribution solutions.
Other industries that saw development from 2019 and 2020 integrated regular and software program publishing, arts retail, inventive marketing, specialised style solutions, and non-government-run museums.
The motion image business returned to the pre-pandemic (2019) level—it contributed almost $68.9 billion in 2021, following a 14 per cent dip in 2020. Performing arts presenters (such as performing arts venues and festivals) contributed just more than $14.three billion to the economy (a 122 per cent rise from 2020), bringing the business slightly more than the 2019 level.
Ten industries saw gains in 2021 but have not returned to 2019 levels. This group involves 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 via 2021 are arts-associated building, such as the building and renovation of libraries, museums, and other cultural facilities and philanthropic solutions, which involves grant-generating and providing.
Highlights from the National Report—Arts and Cultural Employment
ACPSA also tracks employment in arts and cultural industries. In 2021, just below four.9 million workers have been employed to generate arts and cultural goods and solutions, for $504.two billion in total compensation. This is nevertheless significantly less than the 2019 (pre-pandemic) level of five.two million jobs. Amongst the arts and cultural industries that have been the hardest hit in 2019—motion photographs, performing arts organisations, and performing arts presenters—many showed considerable development in jobs from 2020 to 2021, but did not return to pre-pandemic employment levels.
The quickest-developing arts and cultural business from 2020 to 2021—in terms of employment—was motion photographs, which saw a 23 per cent improve (up to 326,000 workers) from the preceding year. In 2019, nevertheless, the business employed 394,000 workers.
The quantity of workers employed by performing arts-associated industries—including performing arts organisations performing arts presenters agents or managers and independent artists, writers, and performers—grew by 14.four per cent in 2020-2021, up to 230,000 workers. However these industries employed a total of 323,000 workers in 2019.
The ACPSA figures on business employment exclude self-employed workers, who nonetheless contribute to the financial worth reported for all arts and cultural industries. Earlier NEA investigation has shown repeatedly that artists in distinct are far far more most likely than other workers to be self-employed.
Highlights from the National Report—Imports and Exports
The ACPSA also gives insights into the imports and exports of arts and cultural goods and solutions. The arts and cultural trade surplus shrank in 2021—$17.eight billion, compared with $28.five billion in 2020 and $31.five billion in 2019. The 2020-2021 distinction was due partly to a higher import worth for arts and cultural goods and solutions than in prior years.
Top rated imports in 2021 integrated jewellery and silverware ($20.six billion), other manufactured goods such as glass and china ($11.four billion), and audio/visual production solutions for Television and motion pictures ($9.7 billion). In 2021, lead arts export commodities integrated inventive marketing ($19.three billion in exports), info solutions such as audio/visual production for Television and motion pictures ($14.four billion), and arts‐related software program publishing ($9.9 billion).
Highlights from the State-Level Report
Even though 49 states have noticed 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, each and every state and the District of Columbia saw development in worth added to their economies from arts and cultural industries, with 31 states and DC displaying at least a ten per cent improve in the arts as a share of gross state solution (GSP). In the case of 47 states and DC, the financial worth from arts and culture surpassed 2019 levels.