Culture revenue up 3.3 billion euros in the second quarter of 2022 (+18% year-on-year rebound).
This business note published by the Department of Studies, Foresight, Statistics and Documentation (Deps-doc) measures economic activity of the market field of culture in the second quarter 2022, based on the turnover reported by enterprises to the Directorate-General for Public Finance.
“The quarterly activity of the crop market exceeds its pre-crisis level of 2019 for the third consecutive time.”
The crop merchant field displays 18% year-on-year rebound in Q2 2022 (+ EUR 3.3 billion), recording a gain of €1.4 billion (+ 7%) compared to 2019, the pre-crisis year considered “normal”.
This rebound corresponds to a growth of all cultural sectors over one year (especially those of the projection of motion pictures, of the asset management and the live performance), with the exception of near-stable sectors video game and the book.
“This is the first time that quarterly revenues from the live market show have exceeded their pre-crisis value.”
Analysis by commercial cultural sector in Q2 2022* :
The turnover of film screening increased by 217% over one year but 12% decrease compared to the second quarter of 2019. The sector most affected by the negative consequences of the health crisis in terms of quarterly losses in turnover (closures and closures of cinemas, gauges, curfews and sanitary passes), the film projection recorded its least bad quartersince the beginning of the pandemic.
Turnover of advertising agencies exceeds by17% its value of the second quarter 2021 and a little less than 5% of 2019.
Turnover in the press sector increased by 9% over one year but 5% decrease compared to the same quarter of 2019.
Audiovisual and cinema activity is above its pre-crisis levelfor the fourth consecutive quarter. With an increase of 6%, this growth is however slightly less strong than the two previous quarters (+8% then +9%).
Radio revenue was almost stable compared to its value in the second quarter of 2021 (+2%) and 7% above its value in the second quarter of 2019.
Book sales were almost stable compared to its value in the second quarter of 2021 but rose by 10% compared to the same quarter of 2019.
With a 23% increase, the activity of recorded music is again well above its pre-crisis level of 2019.
Revenues from physical, download or online video game publishing remain near-stable over a year but fall below their pre-crisis level, 12% below their value in the same quarter of 2019, in a context marked by offbeat games.
Revenues in Q2 2022 are 10% above the value of the same pre-crisis quarter of 2019 This is the first time that quarterly receipts from the live market show have exceeded their pre-crisis value.
The turnover of live entertainment shows a very strong 126% rebound from its Q2 2021 value. This increase over one year is mainly due to the negative consequences of the health crisis on the sector (third containment and closure of cultural sites, gauges, curfews and sanitary pass).
Visual arts turnover exceeds its value by 31% in the 2021 and 2019 quarters. Strong year-on-year growth is driven by good sales in the design and photography business.
The turnover generated by the architecture activities increased by 10% over one year and 9% vs Q2 2019 pre-crisis.
Merchant Wealth Management activities are: almost stable compared to the same quarter of 2019. Their overall turnover is multiplied by almost four compared to Q2 2021. This increase over one year is mainly due to the negative consequences of the health crisis on the sector (third containment and closure of cultural sites, gauges, curfews and sanitary pass).
€3.3bn overall quarterly gain
- Performing arts (26%)
- Visual arts (19%)
- advertising (17%)
- Audiovisual and cinema (16%)
18% rebound over one year for the commercial field of culture
- Growth in the film projection, heritage management and live entertainment sectors
- Virtual stability of video game and book industries
*Details of the method, data and classification of cultural activities pages 19 to 22.
Ludovic Bourlès, Yann Nicolas
Collection Economic Outlook Note, 2022#4, 24p., October 2022