With the NFL lockout still unsettled, perhaps it’s time to look at the second-highest form of public entertainment, in terms of billions of dollars in revenue. That form, which creates $14,500,000,000 in revenue each year in the United States, is the performing arts, which comes in at just under $6,000,000,000 less than professional sports, is no small amount of revenue, and more than the movie industry generates. At a time of economic hardship, this study by the U.S. Economic Census, Bureau of Labor Statistics and other sources, finds that Americans support the performing arts with their wallets. So, before you get into the mindset that performing artists are doing those performances as a hobby, remember that this is a multi-billion dollar industry. Suddenly, those piano lessons are starting to look like an investment, even if they had absolutely no other benefits (which they do).
The American and his Economy: Family with Three Kids
taken January 5, 1953
Nina Leen
When we think about our leisure activities, it’s not often that we consider factors besides our enjoyment. But all other things being equal, isn’t it time to view those music lessons as something more than a pastime–perhaps part of a “time investment” strategy?