Entertainment and the Economy

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Is Entertainment Good for the Economy?

Since the past five years or so have been challenging economic times, there has been no shortage of ideas from politicians and others about ways to get the economy rolling again. What role does entertainment play in this? Has entertainment spending increased or decreased during the past ten years? Is entertainment "all good" when it comes to economic impact?

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Entertainment Business

The Wide World of Entertainment Is Good for The Economy 

“It's all good.”

We Should All Be Rooting for the Entertainment Industry

While not all entertainment events will receive positive critical acclaim, a supportable case can be made very readily that "It's all good" in terms of what entertainment means for the economy. The "entertainment industry" is a diverse collection of individuals, small businesses, not-for-profit organizations and large corporations. When economists talk about the economic impact of various activities and industries, it is common to hear them talk about the "multiplier effect". This is an attempt to measure how money initially spent on things like payroll for performers in a Broadway play ends up having a much bigger impact on the local, regional and national economy than just the initial expenditures for producing the play. In comparison to other industries, entertainment activities have one of the biggest ripple effects throughout the entire economy. Unfortunately this means that while increases in spending for entertainment are felt in a positive way throughout the economy, decreases in entertainment expenditures can have a noticeable negative impact.
Reading and The Economy

Reading Is Good For The Economy 

Examples of Entertainment Spending

Music
Books
Film and video
Video games
Sporting events
Movies
Radio
Television
Theater
Performing arts
And many more examples..........

Movies and The Economy

Theater and The Movies Are Good For The Economy 

Entertainment and The Economy

A Quiz and A Poll

Business Finance Quiz

Before taking the quiz below:

Keep in mind that the past ten years take us back to circa 2002. Also, the recent financial crisis began 2007-2008 (although there were certainly troubling signs well before that).

A Quiz: Has Entertainment Spending Increased or Decreased?

A Poll: Is Entertainment Good for the Economy?

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YouTube and The Economy

Two Entertaining Explanations

The economy is definitely one of those subjects that deserves to be explained in whatever way each individual can best understand it. Please see below for the video treatment.
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Spotlight Review by Steve Bush

"Entertainment Industry Economics" by Harold Vogel

Entertainment Industry Economics: A Guide for Financial Analysis

Amazon Price: $34.98 (as of 05/30/2012)Buy Now

Yes, entertainment is a business, and this book does an excellent job of evaluating the financial economics that guide the multiple impacts that entertainment has on our economy.

Important!

Economic Impact Is in the Eye of the Beholder

Our current divisive political climate seems to invite debate on virtually everything and rejection of most attempts at consensus. As much as any segment of the economy, entertainers and entertainment have contributed to a helping and learning environment while also adding to a positive economic impact.

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Music and the Economy

Music and Art Are Good For The Economy 

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Entertainment Impact for Business and Finance

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Business Finance Impact for Entertainment

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About Stephen Bush

Stephen Bush is the CEO and Founder of AEX Commercial Financing Group and has provided candid business finance advice to small business owners for over 30 years. He works with small business owners throughout the United States.
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Art and the Economy

Entertainment and Art Are Good For The Economy 

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Spotlight Review by Stephen Bush 

"The Entertainment Economy" by Michael Wolf

The Entertainment Economy: How Mega-Media Forces Are Transforming Our Lives

Amazon Price: $11.67 (as of 05/30/2012)Buy Now

Certainly we would all agree that entertainment has global impact. This Michael Wolf book takes that perspective several steps further and provides a conclusion that all businesses will have to become entertaining if they are to survive. I believe that any book that makes a persuasive case about how individuals and small business owners will improve their chances of survival is worth reading.

Wouldn't you agree?

Music, Money and Success 

The Insider's Guide to Making Money in the Music Business

Music Money and Success 7th Edition: The Insider's Guide to Making Money in the Music Business

Amazon Price: $18.28 (as of 05/30/2012)Buy Now

Music represents one of the biggest pieces in the entertainment economy. Anyone wanting to learn more about the financial and business aspects of the music industry should start with this book.