TRG Arts And Purple Seven Study Shows U.S. Performing Arts Organizations' Sales And Revenues Highest In A Year
Almost half (48%) of total advance revenue held by U.S. venues and 41% of advance tickets are for performances due to take place in 2022.
By: Chloe Rabinowitz May. 20, 2021
Aggregate daily revenue of U.S. performing arts organizations has trended upward throughout March and April 2021, with April seeing the best comparative sales and revenues since May 2020, according a new study released today by international arts management consultants TRG Arts and UK arts data specialists Purple Seven. The study, "Green Shoots in April 2021?" is based on data collected from the COVID-19 Sector Benchmark, an initiative led by TRG Arts and Purple Seven, which has grown into the largest global arts and cultural consumer dataset in the industry. Data from venues in Canada, the United Kingdom and the Republic of Ireland are also presented in the study.
Among the study highlights:
• Almost half (48%) of total advance revenue held by U.S. venues and 41% of advance tickets are for performances due to take place in 2022.
• The U.S. revival appears faster in traditionally smaller markets with April 2021 aggregate revenues in New England at 62% of what was achieved in April 2019.
• Currently the sales revival is uneven across venue types, with aggregate sales for symphonies and concert halls the lowest compared to the equivalent month in 2019.
• Ticket sales and revenue in North America continue to be far below the equivalent levels in 2019.
• Compared with the pre-pandemic period of January to April 2019, in January to April 2021 the majority of U.S. organizations reported a significant reduction (20%+) in numbers of gifts and gift revenue they had received.
"While this analysis does give some grounds for optimism, the recovery so far in the U.S. is partial and uneven," said TRG Chief Executive Officer Jill Robinson. "Some organizations that have worked consistently to deepen their relationships with their customers during the pandemic are now being rewarded with record subscription sales. At the same time, organizations that have effectively hibernated for the past year will find re-engaging with their audiences far more challenging."
Monthly sales compared to equivalent month in 2019, U.S.
"The report's snapshot on philanthropy so far in 2021 also reveals a very diverse picture," commented Purple Seven Managing Director David Brownlee. "It might be expected that the public would tire of support for arts venues that cannot present art, but around a quarter of U.S. organizations are reporting gifts and revenues at least 20% in excess of the same period in 2019."
The data from 357 organizations (99 in U.S., 12 in Canada, 228 in the U.K. and 18 in the Republic of Ireland) represent a majority of theaters, but there is also a representation of arts centers and orchestras. The COVID-19 Sector Benchmark tracks sales on a daily basis from the box offices of both funded charities and commercial arts organizations.
The full study of Green Shoots in April 2021? is available for free download at https://go.trgarts.com/InsightReport_May21.
TRG Arts and Purple Seven have published a number of studies on the impact of COVID-19 pandemic on the arts and culture sector:
• February 2021, "COVID-19 and Philanthropy - Giving in 2020" https://go.trgarts.com/BenchmarkInsights_Jan2021.
• November 2020, "Ticket Sales & Philanthropy" https://trgarts.com/blog/benchmark-insights-nov-2020.html
• October 2020, "Who is Giving?" https://go.trgarts.com/InsightReport_Oct20
• September 2020, "COVID-19 and the Performing Arts - Six Months After Closure" https://trgarts.com/blog/insights-report-sep-2020.html
• August 2020, "Who is booking now? Changes in ticket buyer demographics post COVID-19" https://go.trgarts.com/InsightReport_Aug20
• June 2020, "Individual Donations - Is New Philanthropic Income Replacing Lost Ticket Income?" https://go.trgarts.com/InsightReport_July20
• May 2020, "Tracking the Initial Impact of COVID-19 on the Performing Arts in the UK and North America" https://go.trgarts.com/InsightReportMay2020
TRG Arts offers a range of free resources for cultural and arts professionals throughout the U.S., Canada, the U.K. and the EU to ensure the field of arts and culture thrives now and after the COVID-19 crisis:
• TRG 30, a weekly 30-minute webinar series of crisis counsel and best practices that attracts hundreds of executives globally each week: https://go.trgarts.com/TRG30.
• TRG blog for the latest on COVID-19 related topics: https://go.trgarts.com/Blog
About the COVID-19 Benchmark Dashboard
Purple Seven and TRG Arts continue to offer free access to the free COVID-19 Benchmark Dashboard to organizations in the U.S., Canada, the U.K. and the Republic of Ireland. To register visit https://go.trgarts.com/benchmark.
Expansion of the COVID-19 Benchmark Dashboard is supported in part by a grant from the National Endowment for the Arts (NEA) to SMU DataArts, a national center for arts research and TRG Arts' long-time partner in advancing the arts and culture sector.
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