If you think that those who work in the arts field or in businesses that provide support for the arts will be exempt from the economic downturn? Think again!
I recently came across this article in the The Daily Tar Heel, the newspaper of my alma mater, UNC Chapel Hill. The article quotes Emil Kang, UNC’s Executive Director for the Arts. UNC arts programs have been valued customers of ours for many years.
Here’s what Mr. Kang had to say:
“If you talk to anyone who manages a budget they’ll tell you that they’re worried. The arts sector, like most sectors that are not financial markets, are always lagging behind. I’m included; we’re worried.”
“We are at the mercy of people’s disposable income. Unfortunately the arts are about six months behind,” he said. “I think we are going to see a lot of worse news over the next couple of years.”
Those arts organizations that count on private donations and government appropriated funds for their core support are already planning fewer shows for upcoming seasons. Donations from patrons and foundations are falling off and their return will trail the recovery of the economy as a whole.
Most arts funding not directly related to ticket sales is usually appropriated a least a year in advance, giving a false sense that the arts are not facing the same sort of downturn as General Motors and DHL.
Recent closing of Broadway hits like Hairspray and Legally Blonde reflect the current softness in ticket sales, sales that come almost exclusively from people’s discretionary income. Poor sales for this year’s touring productions of shows like The Radio City Christmas Spectacular and Backyardigans will slowly and surely filter down to those who are employed in the arts and to the businesses that count on the arts for much of their sales.
If you make your living in the arts or derive a significant portion of your income from arts organizations, get ready. Rough seas are on the horizon.
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