Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $7.3bn in 2024.
Trends and Insights
Fine arts schools made a delayed recovery from the pandemic
- Fine arts schools benefitted from solid growth in the years leading up to the COVID-19 pandemic, but lockdown orders and social distancing guidelines reversed the industry's trajectory. Lingering health concerns kept fine arts schools from reaching full capacity in 2021.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Rising disposable income will offset lackluster federal funding
- Federal funding to creative arts will through the next five years, challenging fine arts schools that will lose direct subsidies. This will also expose the industry to more fluctuations in consumer spending as scholarships and grants become less accessible and force students to pay out of pocket.
Biggest companies in the Fine Arts Schools in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Fine Arts Schools in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Recreational dance classes, Recreational music and theater classes and Training and professional development programs. Recreational dance classes is the largest segment of the Fine Arts Schools in the US.
Trends and Insights
Recreational dance classes remain the most popular programs
- This segment is made up of all dance classes designed for recreation and leisure, including formal performance dances (ballet and modern dance) as well as hip-hop, ballroom dances (the waltz and the tango, jazz dances) and worldwide dances (flamenco, belly dancing and capoeira).
- More insights available in the full report
Table of Contents
About this industry
Industry definition
This industry includes operators 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).
What's included in this industry?
Providing art instruction (except commercial or graphic) Providing ballet instruction (except academic)Providing ceramics instructionProviding dance instructionProviding drama instruction (except academic)Providing handicrafts instructionProviding music instruction (except academic)Providing photography instruction (except commercial)Providing sculpture instructionProviding voice instructionCompanies
Purchase this report to view all major companies in this industry.
Related Terms
COLLEGEENDOWMENT FUNDNATIONAL ENDOWMENT FOR THE ARTS (NEA)Industry Code
NAICS 61161 - Fine Arts Schools in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Fine arts schools made a delayed recovery from the pandemic. Persisting health concerns kept most of the industry operating at lower capacity in 2021, and heightened competit...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Dance classes are the largest source of revenue. These classes are accessible to new students but also cater to the most experienced ballet or modern dance performers.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast is the top region. Fine arts schools need a large population to serve, and the Southeast contains over a quarter of the entire nation's populace.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price is a critical competitive base. Consumers usually attend fine arts schools as a hobby, so keeping prices low is the best way to prevent losses in attendance when per ca...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are no major fine arts schools, as the pressure to be geographically dispersed and limitations on achieving an economy of scale make it difficult for one school to gain ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
States regulate fine arts schools, so federal oversight is minimal. Still, schools that offer degrees or certificates need to be accredited by the proper agency.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Fine arts schools are keeping profit high, even as workforces expand. Price competition makes offsetting wage costs challenging, but the industry's access to part-time worker...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Fine Arts Schools in the US industry in United States in 2024?
The market size of the Fine Arts Schools in the US industry in United States is $7.3bn in 2024.
How many businesses are there in the Fine Arts Schools in the US industry in 2024?
There are 16,573 businesses in the Fine Arts Schools in the US industry in United States, which has grown at a CAGR of 1.5 % between 2019 and 2024.
Has the Fine Arts Schools in the US industry in United States grown or declined over the past 5 years?
The market size of the Fine Arts Schools in the US industry in United States has been growing at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Fine Arts Schools in the US industry in United States over the next 5 years?
Over the next five years, the Fine Arts Schools in the US industry in United States is expected to grow.
What does the Fine Arts Schools in the US in United States include?
Providing art instruction (except commercial or graphic) and Providing ballet instruction (except academic) are part of the Fine Arts Schools in the US industry.
How competitive is the Fine Arts Schools in the US industry in United States?
The level of competition is low and increasing in the Fine Arts Schools in the US industry in United States.
Related Industries
Widen you competitive advantage with related industries
Competitors
- Community Colleges in the US
- Trade & Technical Schools in the US
- Public Schools in the US
- Private Schools in the US
- Colleges & Universities in the US
Complementors
- There are no industries to display.
International industries
- Art and Non-Vocational Education in Australia
- Art and Non-Vocational Education in New Zealand
View all industries in United States
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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