Arts Data Profile #6

The 2014 Arts and Cultural Production Satellite Account: 1998-2012

Title of Dataset

Arts and Cultural Production Satellite Account (ACPSA)

Periodicity

Intended as an annual product, preliminary estimates for which were presented in 2013. A third iteration, to include ACPSA estimates adjusted for inflation, is planned for release in late 2015 or early 2016.

Source/Sponsor

Partnership between the NEA's Office of Research & Analysis and the U.S. Bureau of Economic Analysis

Research Topic

Arts and the GDP

Notable Features

  • Benchmark revision to the ACPSA, a comprehensive and detailed measure of the arts and culture's contribution to the U.S. economy
  • Full time-series spanning 1998-2012
  • Reports production of detailed arts and cultural commodities (i.e., goods and services)
  • Employment and compensation by arts and cultural industries
  • Supply and consumption of arts and cultural goods and services, including imports and exports
  • Multipliers measuring the effect on the U.S. economy from changes in demand for arts and culture

Revisions to the ACPSA

Relative to the first, 2013 ACPSA, the 2014 account depicts greater arts and cultural value added, more employed workers, and wider trade surpluses.

Factors contributing to this expansion include: (1) crediting the arts and cultural sector with a greater share of architectural services than was counted in the first ACPSA; (2) the inclusion of additional arts and cultural commodities; (3) improved methods of measuring the employment of workers producing ACPSA goods and services; and (4) a comprehensive revision to the BEA's input-output methodology that better accounts for some of the arts and cultural sector's most valuable commodities, particularly ACPSA goods and services produced by the information sector such as motion pictures, broadcasting, and publishing.

In addition to incorporating new and revised source data, the BEA's comprehensive revisions included the recognition of expenditures by private enterprises for the creation of entertainment, literary, and artistic originals as fixed investment. These investments are captured by the 2014 ACPSA.

Overview

In 2012, the most recent year for which reliable estimates are available, the production of arts and cultural goods added more than $698 billion to the U.S. economy. This production amounted to 4.32 percent of GDP.

Top Contributors to Arts and Cultural GDP: Selected Industries (2012)