I started with a quick industry overview. Who's attending these studios? What does the competitive landscape look like? Here's a sampling of what I learned:
The industry comprises studios that offer classes for dance and other performing arts, including and not limited to: ballet, jazz, hip-hop, tap, latin ballroom, voice lessons, and acting classes. Some take in extra revenue through selling tickets to performances, selling merchandise, private lessons, and running intensives/summer camps.
- As of 2019, the market size in the U.S. was $4 billion (IBIS World)
- The industry is highly fragmented, 98.9% of the companies operate from a single
- location, and the top four companies account for less than 10% of revenue ( PR Web)
- 79.4% of dancers and choreographers are female (Data USA)