Art Market - Statistics & Facts

Art Market - Statistics & Facts

Statistics and facts on the Art Market

The arts & culture market in general is a very diverse market. It is estimated that each year about 150 billion U.S. dollars are spent by consumers on arts and culture-related goods in the U.S. This spending, however, did not just include expenditure on art museums and exhibitions but also encompass spending on books, recorded audio, video media, tickets to live performing arts and movies.

The arts, in the more narrow sense, are to a great extent dependent on funding, drawing funding and other resources from a broad pool of sources. Among these contributors are the government (federal, state and local), foundations, other non-profit organizations, corporations and private philanthropists. Federal arts and culture spending in the U.S. for example was at about 1.94 billion U.S. dollars in 2013, a per capita spending of six U.S. dollars.

Organizations that profit from such funding include art museums. The funding allows these museums to put together exhibitions which attract more than 30 million visitors per year in the U.S. One of the most visited art museums worldwide in 2015 was the the Metropolitan Museum of Art in New York, over 6.5 million visitors.

Picture: / Roger Kirby, Billy Alexander

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