TCG’s Theatre Facts 2023 report documents the second year of the pandemic recovery. Total earned income increased by 94% since 2022, but remained 25% lower than 2019. Sixty-one percent of Trend Theatres report a negative Change in Unrestricted Net Assets.
Not-for-profit theatres contributed over $3.6 billion to the U.S. economy and attracted more than 27 million attendees, according to Theatre Facts 2023, released by Theatre Communications Group (TCG), in partnership with SMU DataArts. Based on TCG’s Fiscal Survey and SMU DataArts’ Cultural Data Profile (CDP), Theatre Facts is the only in-depth report that examines the attendance, performance, and overall fiscal state of the U.S. professional not-for-profit theatre field.
“Theatre Facts 2023 underscores the extraordinary strength of non-profit theatres in the face of continued challenges,” remarked Emilya Cachapero, TCG’s Co-Executive Director of National and Global Programming. “While the financial landscape remains uncertain, theatres are innovating and finding new ways to connect with their communities. This important data tells us that we must continue to invest in sustainable solutions that ensure a just and thriving theatre ecology.”
Theatre Facts 2023 reflects data from the fiscal year that theatres completed between October 31, 2022 and September 30, 2023. “Even as recovery continues, theatres have encountered new pressures in the form of rising costs undermining income in 2023,” said Wenhua Di, Research Director, SMU DataArts, Meadows School of the Arts. “Insights from audience engagement, revenue patterns, and operational metrics reveal a sector grappling with sustainability challenges yet also demonstrating remarkable resilience and innovation.”
Following an Executive Summary, the report presents data in four ways:
- The Universe: a broad overview of the over 2,000 U.S. professional not-for-profit theatres.
- Trend Theatres: a longitudinal analysis of the 137 theatres that participated in either the TCG Fiscal Survey or CDP each year from 2019 to 2023.
- Profiled Theatres: a detailed examination of all 213 theatres that completed a CDP/Fiscal Survey in 2023 with data broken out into six budget categories based on annual expenses.
- BITOC Theatres: for the first time, Theatre Facts includes a special section focused on Black, Indigenous, and Theatres of Color( BITOC), highlighting broad distinctions between BITOC and non-BITOC, and providing insights into their distinct strategies, challenges, and opportunities.
Unless otherwise noted, all of the financial changes reported in this press release reflect average, inflation-adjusted figures for the Trend Theatres for the 5-year period from 2019 to 2023. Key findings include:
- In 2023, 61% of Trend Theatres reported a negative Change in Unrestricted Net Assets (CUNA), and 24% saw a negative CUNA exceeding 20% of their budgets—the worst level since Theatre Facts began tracking CUNA in 2000. The percentage of theatres with negative CUNA surpassed 60% only once before, in 2009 during the height of the Great Recession, though the severity of the decline was not as acute. Rising costs that surpass increases in income, coupled with the depletion of temporary relief funding, have left the sector more vulnerable than any point in its recent history.
- Total earned income fell from a 4-year high in 2019, declining sharply in 2021 and hitting an all-time low in 2022. In 2023, total earned income increased by 94% but remained 25% lower than 2019.
- Total ticket income, encompassing both subscription and single ticket sales revenue, has increased after a 4-year low in 2022, but was still 29% lower than in 2019 after adjusting for inflation.
- Subscription attendance rebounded as overall attendance fell 22%. The average number of subscribers peaked in 2020, hit an all-time low in 2021, and then increased in 2022 and 2023, representing only a 1% decrease from 2019.
- Attendance from individuals 18 and under fell 23% over the 4-year period.
- Average trustee giving was 28% lower in 2023 than in 2019, declining 15% from 2022 to 2023 after peaking in 2020.
- Investment instrument fluctuated significantly throughout the 4-year period, decreasing 31% since 2019.
- Total expenses rose 12% from 2022 to 2023 and total payroll expenses comprised an average of 51% of total expenses across all theatres.
- Total compensation fell by 5% from 2019 to 2023 yet accounted for 6% more of theatres’ total expenses over the 4-year period. The average total staff employed declined by 47% from 319 in 2019 to 175 in 2023. Staff reductions during the peak year of the pandemic (2021) were the greatest and predominantly affected part-time workers.
- On average, working capital levels were positive for theatres with budgets under $10 million, but tended to be negative for the largest theatres.
For further information on the changes experienced by the field between 2019 and 2023, and on differences in income, attendance, and expenses between theatres of various sizes, see the Trend Theatres and Profiled Theatres sections of the full report here: Theatre Facts 2023 Report
Theatre Communication Group’s Theatre Facts 2023 was written by Daniel Fonner, associate director for research, SMU DataArts; Rebecca Roscoe, senior research associate, SMU DataArts; Wenhua Di, SMU DataArts research director; and Jen Benoit-Bryan, SMU DataArts research director; with editing from Rachael Hip-Flores, co-lead of research programs, TCG; and Corinna Schulenburg, co-lead of research programs, TCG.
SMU DataArts, the National Center for Arts Research, is a joint project of the Meadows School of the Arts and Cox School of Business at Southern Methodist University. SMU DataArts compiles and analyzes data on arts organizations and their communities nationwide and develops reports on important issues in arts management and patronage. Its findings are available free of charge to arts leaders, funders, policymakers, researchers, and the general public.
The vision of SMU DataArts is to build a national culture of data-driven decision-making for those who want to see the arts and culture sector thrive. Its mission is to empower arts and cultural leaders with high-quality data and evidence-based resources and insights that help them to overcome challenges and increase impact. To work toward these goals, SMU DataArts integrates data from its Cultural Data Profile, its partner TRG Arts, and other national and government sources such as Theatre Communications Group, the National Endowment for the Arts, the Census Bureau, and IRS 990s.
Publications include white papers on emergence from the COVID-19 crisis, high-performing arts organizations of color, protecting arts organizations through downturns, working capital and the resiliency of BIPOC organizations, the intersection of Funding, Marketing, and Audience DEI, and more. SMU DataArts also publishes reports on the health of the U.S. arts and cultural sector with the annual Arts Vibrancy Index, which highlights the 40 most arts-vibrant communities around the country. For more information, visit www.smu.edu/dataarts.
Theatre Communications Group (TCG), the national organization for theatre, leads for a just and thriving theatre ecology. Since its founding in 1961, TCG’s constituency has grown from a handful of groundbreaking theatres to over 750 Member Theatres and affiliate organizations and over 3,000 Individual Members.
Through its programs and services, TCG reaches over one million students, audience members, and theatre professionals each year. TCG offers networking and knowledge-building opportunities through research, communications, and events, including the annual TCG National Conference, one of the largest nationwide gatherings of theatre people; awards grants and scholarships to theatre companies and individual artists; advocates on the federal level; and through the Global Theater Initiative, TCG’s partnership with the Laboratory for Global Performance and Politics, serves as the U.S. Center of the International Theatre Institute. TCG is North America’s largest independent trade publisher of dramatic literature, with 20 Pulitzer Prizes for Drama on the TCG booklist. It also publishes the award-winning American Theatre magazine and ARTSEARCH®, the essential source for a career in the arts.
TCG believes its vision of “a better world for theatre, and a better world because of theatre” can be achieved through individual and collective action, adaptive and responsive leadership, and equitable representation in all areas of practice. TCG is led by co-Executive Directors, Emilya Cachapero, LaTeshia Ellerson, and Alisha Tonsic.