Overview

Work of art: Rising incomes will drive growth, despite decreased government spending

The Fine Arts Schools industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$5bn
Annual Growth
12-17
1.8%
Annual Growth
17-22
Profit
Employment
97,415
Business
14,253

Industry Threats & Opportunities

  • Higher tuition revenue and stronger investment returns from endowment funds will boost industry revenue
  • Most schools are will gain strong investment returns as the stock markets improve
  • Rising per capita disposable income will allow more individuals to afford tuition
  • Industry Analysis & Industry Trends

    The Fine Arts Schools industry has developed a creative edge over the five years to 2017. Revenue growth began to rebound as the economy started to recover and schools' endowment funds and corporate profit bounced back. Additionally, still-high unemployment brought strong demand from a larger number of individuals who were out of work. Moving forward, industry revenue is expected to further improve due to stronger investment returns from endowment funds and higher tuition revenue.

    Industry Report - Industry Analysis Chapter

    The Fine Arts Schools industry has fared well over the five years to 2017. Rising levels of per capita disposable income have allowed an increasing number of US consumers to make discretionary expenses on fine arts courses while the growth of corporate profitability has enabled major corporations to make significant donations to institutions within this industry. Moreover, many industry institutions have benefited from a steady increase in the number of primary and postsecondary school-aged children demanding fine arts courses for recreation and education. However, industry growth has been somewhat constrained by a decline in the level of federal funding for the creative arts, which caused industry profit margins to stagnant during the five-year period. Ove

    Additional Insights for the Fine Arts Schools Industry

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

  • Access to volunteer labor
  • Ability to attract local support/patronage
  • Ability to educate the wider community
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Number of K-12 students in the Fine Arts Schools industry impact industry performance..

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    Industry Products

    What is the Fine Arts Schools Industry?

    This industry includes establishments that offer instruction in the fine arts, including dance, drama, music and the visual arts. The industry does not include programs that offer academic degrees or diplomas. Commercial and graphic arts and commercial photography instruction are also excluded from this industry, as these subjects are accounted for in the Trade and Technical Schools industry (IBISWorld report 61151).

    Industry Products
    Recreational dance classes
    Recreational music and theater classes
    Training and professional development programs
    Recreational visual arts classes
    Academic courses
    Industry Activities
    Providing art instruction (except commercial or graphic)
    Providing ballet instruction (except academic)
    Providing ceramics instruction
    Providing dance instruction
    Providing drama instruction (except academic)
    Providing handicrafts instruction
    Providing music instruction (except academic)
    Providing photography instruction (except commercial)
    Providing sculpture instruction
    Providing voice instruction

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Number of K-12 students
  • Corporate profit
  • Federal funding for creative arts
  • Time spent on leisure and sports
  • Demand from donations, grants and endowment

  • Current Performance
  • Rising demand for fine arts courses
  • Corporate profit and donations
  • Government funding declines
  • Rising industry participation
  • Chart: Revenue Growth

  • Industry Outlook
  • The economy helps and hurts
  • Declining government funding
  • Table: Fine Arts Schools Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Fine Arts Schools Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Ceramics Manufacturing
  • Jewelry Manufacturing
  • Advertising Agencies
  • Community Colleges
  • Musical Groups & Artists
  • Performers & Creative Artists
  • Colleges & Universities
  • For-Profit Universities

  • Key Selling Industries
  • Camera Stores
  • Fabric, Craft & Sewing Supplies Stores
  • Janitorial Services
  • Musical Instrument & Supplies Stores
  • Office Supply Stores
  • Record Stores

  • Products & Services
  • Recreational dance classes
  • Other
  • Recreational music and theater classes
  • Training and professional development programs
  • Recreational visual arts classes
  • Academic courses
  • Chart: Fine Arts Schools Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Children aged 12 and under
  • Other
  • Adolescents aged 13 to 18
  • Art students and professional artists
  • Adults
  • Senior citizens
  • Chart: Major Market Segmentation for the Fine Arts Schools Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Rent and utilities
  • Purchases
  • Depreciation
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Fine Arts Schools

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Fine Arts Schools Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Fine Arts Schools Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Fine Arts Schools Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Per capita disposable income (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    College
  • A post-secondary educational institution.
  • Endowment Fund
  • Donations to a school wherein the principal is to remain intact and is to be invested to produce income that may be expended or reinvested.
  • National Endowment For The Arts (Nea)
  • An independent agency of the federal government that offers support and funding for projects exhibiting artistic excellence.
  • Why buy this report?

    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
    • Quickly build competitive intelligence
    This report on Fine Arts Schools:
    • 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 Fine Arts Schools 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 Fine Arts Schools, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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