Americans Paying More for Culture, Opportunity Looms on Technology Front
Submitted by Steve on April 12, 2012
From Andre Bouchard at Technology in the Arts:
New information out from the Consumer Price Index (CPI) indicate that Americans are spending more for both technology and entertainment (a catagory that includes cultural expenditures). How can cultural organizations capitalize on this? What does this mean? Articles in both The Atlantic and NPR’s Planet Money look at these trends from a more general standpoint but don’t drill down on the idea for the arts.
The facts presented from The Atlantic indicate that 2007 Recreation expenditures are up by 1.7% over those from the US in 1947. The NPR article states that as a percentage of household income, expenditures on Entertainment rose from 5% of the total in 1947 to 6% in 2007. This information along with the more current information from the CPI which had the Recreation Index gaining by 0.6% (driven in part by a 1.2% and 2.0% rise in admission to cultural events in Dec 2011 and Jan 2012) this last January give the arts sector some reason to look favorably towards the horizon. These numbers mean recovery, and recovery means opportunity for change.