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

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...read more.

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

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 Report - Industry SWOT Analysis Chapter

    The Fine Arts Schools industry is in the growth stage of its life cycle, which is illustrated by a substantial rise in the number of industry operators and the consistent introduction of new products and services into the market. Additionally, in coming years, the industry is expected to grow at a faster rate than the overall US economy. Over the 10 years to 2022, the industry's contribution to the economy, measured by industry value added (IVA), is projected to increase at an annualized rate of 2.3%. Comparatively, US GDP is expected to grow at an annualized rate of 2.0% during the same period.The industry is also highly fragmented with existing operators ranging from large, prestigious conservatories to nonprofit organizations and nonemploying businesses. As ...purchase to read more.

    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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    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

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    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

  • 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
    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
    There are no major players in this industry. This report includes analysis of other companies.
    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
    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
    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’s Fine Arts Schools Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    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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