Federal analysis finds that arts and culture sector adds nearly $700 billion to US economy

Economic Indicators Associated Press

New research from the National Endowment for the Arts and U.S. Bureau of Economic Analysis shows that the arts and culture sector contributes more to the U.S. economy than previously thought.

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The analysis released Monday is based on 2012 data. It shows that arts and culture contributed more than $698 billion to the economy. That's about 4.32 percent of U.S. goods and services.

The analysis says six industries account for most arts and culture production. They are broadcasting, movies and videos, publishing, retail sales, performing arts, and advertising.

A previous estimate, released in 2013, showed that creative industries generated about $504 billion in the U.S. economy. The new analysis adds architectural services and online ticket vendors to the creative industries.

Additional studies examine arts participation by state and barriers to participation.