By: Jim DeGood, Director of Client Services
Data Analysis: Nariman Tulepkaliev, Data Analyst
As a follow up to Millennials Are Not the Answer to Your Revenue Problems blog post, the TRG Arts 2019 Generational Analysis provides an in depth view of North American demographic shifts that are occurring now or will occur in the near future.
Through data analysis, TRG Arts continues to see a link between life stage and arts consumption – arts patronage tends to occur from mid-life onwards, as careers and household earning stabilize, with the majority of arts and cultural patronage still comprised of Silents and Boomers. But the reality is that these audiences are diminishing.
Consequently, the arts and cultural industry has a near obsession with creating Millennial audiences. The focus on this particular generation is understandable given their sheer volume of numbers which could help offset losses anticipated by declining attendance and giving from Silents and Boomers. But, our research continues to show that not one generation – Millennials included – are a silver bullet to creating sustainable revenues.
What are arts and cultural organizations prepared to do in fostering other generations – not just Millennials? What about Generation X? In conclusion, we share six ways in which arts organisations can start to address these generational shifts are shared.
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