Dance Studios in the US - Industry Market Research Report

Dance Studios in the US - Industry Market Research Report

Dance Studios in the US

The popularization of dance through TV shows and TikTok has boosted interest in dancing as a pastime over the past five years, spurning demand for instruction from dance studios. While the onset of COVID-19 severely cut revenue as dance studios were forced to temporarily close, resurging demand in 2021 brought a spike in revenue that more than made up for the previous year's challenges and lifted profit above earlier levels. Growth was tempered in 2022 as widespread inflation left consumers with less money to spend on discretionary expenses, but the popularity of dance as a medium of fitness, artistic expression and social gathering has kept the industry on an upward trajectory. Industry-wide revenue has been growing at a CAGR of 1.7% over the past five years and is expected to total $4.4 billion in 2023, when revenue will jump by an estimated 4.5%.

This industry includes studios that primarily offer instructional classes focused on providing knowledge and skills related to dance, including ballroom dancing, ballet, hip-hop and modern dance, among others. These include dance schools for children, intermediate and professional dancers. However, this industry does not include dance companies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.