Artists' and the Economic Recession

I recently came across a tweet from one of my favorite marketing experts, Suzanne Lainson of Brands Plus Music. It was a report on the selected findings of a survey conducted by Leveraging Investments in Creativity. [LINC is a 10-year initiative to improve the conditions for artists working in all disciplines]. 

I’ve decided to share excerpts of the report entitled, “The Artists and the Economic Recession” and request your feedback on the effects of the recession on your music business.

The survey sought to understand artists’ financial circumstances more than a year into the recession, their strategies for adaptation, and their needs and concerns at this time. LINC partnered with 35 arts service organizations across the U.S. to administer the survey to 5,380 artists between July 20 and August 17, 2009.

I found most of the results to be surprisingly familiar to the ones I’ve heard piece meal from my clients last year, however this is the first time I had seen such a complete report from a cross section of people like you - struggling artists clamoring for ways to survive and become more profitable in 2010.

Artists’ Concerns

The major pain points includes loss of income, followed by fewer sales, difficulty finding funding for future projects, rising amounts of debt, fewer exhibition/presentation/performance opportunities, fewer grants and low morale for themselves and others they know. Other major concerns are loss of health insurance and derailed retirement plans.

Positive Attitudes and Opportunities

Nearly four in 10 artists say the ability to spend more time on their art work is a positive outcome of the recession. One third of artists note that they are able to experiment more and are experiencing more openness to collaboration. Some artists say that community has a greater need for their services in these tough times.

Resources That Help

I found the question of which resources artists find most helpful most intriguing. Click on the chart below for a better view.

I’d love to hear your own thoughts on this issue. What resources do you feel will be the most important to your band in 2010? Please feel free to answer the one question survey question below and provide additional details in the comments section.

[Disclosure] The results will be used for my personal data, but also to help create a contest/giveaway for my client, Fairtilizer.com.

CLICK HERE FOR A QUICK ONE QUESTION SURVEY

Hope you all are having a wonderful Holiday Season.

Cheers!

-eleetmusic

Comments

[Graham Smith-White]

I have been keeping an eye on http://www.arts.gov/artworks to keep up with this sort of information as well. The NEA is on a huge artists in the workforce kick.