NEA Announces New Research on the Value Added By Cultural Industries
Submitted by Steve on July 20, 2011
Cultural industries are economic powerhouses and states have the data to prove it, according to a new analysis from the National Endowment for the Arts. Drawing on data from the Bureau of Economic Analysis, Arts and the GDP: Value Added by Selected Cultural Industries is a new NEA research note that examines the value added by three selected cultural industries: (1) performing arts, sports, and museums; (2) motion pictures and sound recording; and (3) publishing (including software). Combined, these three cultural industries contributed a total of $278.4 billion to the U.S. economy in 2009. The NEA research note also looks at dollars and jobs added to individual state economies by these cultural industries.
Key findings:
- In 2009, the performing arts, sports, and museums added $70.9 billion to the U.S. economy. That same year, the motion picture and sound recording industries contributed $59.8 billion, while publishing (including software) added $147.7 billion.
- Cultural industries have contributed increasingly greater amounts to the U.S. economy. Between 1987 and 2009, for example, inflation-adjusted value added by the performing arts, sports, and museums nearly doubled.
- The 2007-2009 recession affected cultural production. Real value added from the performing arts, sports, and museums fell by 1.4 percent in 2008; it dipped 5.5 percent the following year. Contractions also occurred in the motion picture and sound recording industries and in publishing.