This economic note measures the economic activity of the market field of culture in the second quarter of 2023, from the evolution of turnover indices by sector derived from VAT declarations made by companies to the Directorate-General for Public Finance.
Revenue in the market cultural sectors rose by 954 million euros in the second quarter of 2023, up 4% compared to the second quarter of 2022 and 12% compared to the second quarter of 2019.
For the seventh consecutive time, the quarterly activity of the commercial field of culture exceeds its pre-crisis level of 2019. The situation differs according to the different market sectors. Quarterly sales of live performance have exceeded its pre-crisis level since the second quarter of 2022 and that of wealth management since the third quarter of 2022.
For the first time in three and a half years, in the second quarter of 2023, the cinema’s turnover exceeded its corresponding pre-crisis value (+ 8%).
TO REMEMBER:
Quarterly gain of 954 million euros over one year, an additional 4% in value and 3% in volume:
- The projection of cinematographic films (+ 23%), live performance (+ 19%), heritage management and recorded music (+ 12%) increased strongly in the second quarter of 2023 compared to the same quarter of 2022.
- The radio (- 9%) and video games (- 6%) are the only two sectors with a significant drop their revenues over one year, as in the previous two quarters.
In the second quarter of 2023, the turnover of the commercial cultural sectors was up 12% compared to the second quarter of 2019 before the crisis:
- The visual arts, recorded music and performing arts in the second quarter of 2023 the largest positive revenue gaps compared to their corresponding 2019 value (+40%, +37% and +31% respectively).
- Conversely, the video game and press show negative spreads 12% and 6% respectively compared to the second quarter of 2019.
Ludovic Bourlès, Yann Nicolas
Short Term Market Note Collection, 2023#4, 30p. , October 2023
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