NAICS Code 7111 - Performing Arts Companies

NAICS 7111 - Performing Arts Companies

NAICS 71 - Arts, Entertainment, and Recreation
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 711 - Performing Arts, Spectator Sports, and Related Industries
  NAICS 711 - Performing Arts, Spectator Sports, and Related Industries NAICS 712 - Museums, Historical Sites, and Similar Institutions NAICS 713 - Amusement, Gambling, and Recreation Industries
  - NAICS 7111 - Performing Arts Companies
    NAICS 7111 - Performing Arts Companies NAICS 7112 - Spectator Sports NAICS 7113 - Promoters of Performing Arts, Sports, and Similar Events NAICS 7114 - Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures NAICS 7115 - Independent Artists, Writers, and Performers

This industry group comprises establishments primarily engaged in producing live presentations involving the performances of actors and actresses, singers, dancers, musical groups and artists, and other performing artists.

Industry trends:

The Performing Arts Companies industry, classified under NAICS 7111, is witnessing several key qualitative trends. One significant trend is the increasing integration of digital and virtual platforms. Companies are investing in streaming services and virtual performances, expanding their reach beyond local audiences. This trend has been accelerated by the COVID-19 pandemic, which necessitated an innovative response to restrictions on live events. Consequently, hybrid models combining live and digital performances are becoming more common, offering new revenue streams and engagement opportunities.

Another trend is a heightened focus on diversity and inclusion within performances and organizational structures. Companies are actively seeking to represent a broader range of cultural narratives and are prioritizing the recruitment and retention of diverse talent. Alongside this, there is a growing emphasis on community outreach and education programs to build stronger connections with local communities and cultivate new audiences.

The near-term forecast indicates continued growth in digital offerings, with advancements in augmented and virtual reality enhancing the audience experience. Additionally, as venues reopen, there is an expected resurgence in demand for live performances, though this may be tempered by ongoing health concerns and economic factors affecting disposable income. Consequently, adaptability and innovation will remain critical for success in this evolving landscape.