ERIC Number: ED225889
Record Type: Non-Journal
Publication Date: 1977-Jun
Reference Count: N/A
An Econometric Model of the Performing Arts. Final Report.
Schwarz, Samuel; Greenfield, Harry I.
An effort was made to construct and apply an econometric model to explain selected trends and characteristics of symphony orchestras, based on data for the years 1949-75 from 17 major orchestras belonging to the American Symphony Orchestra League. The average length of the playing season increased from about 26 to 49 weeks during the period of the study, with the average number of concerts increasing from 104 to over 180. Real (inflation-adjusted) salaries increased by about 50 percent, most of the increase occurring in the 1950's and 1960's. Average real ticket prices increased, as did real per capita contributions and admissions per capita. Despite these increases and an $80 million Ford Foundation Symphony Program begun in 1966 primarily to build up symphony endowment funds, the orchestras had to finance deficits out of endowments to the extent of $82 million. The demand for tickets is apparently inelastic, so that high prices would increase revenues more than they would reduce attendance; but orchestras are reluctant to greatly increase prices, fearing that this would damage their public image and reduce contributions. (IM)
Publication Type: Reports - Research
Education Level: N/A
Sponsor: National Endowment for the Arts, Washington, DC.
Authoring Institution: Center for Policy Research, New York, NY.