Dance Data Project® Releases Expanded Report ON FINANCIAL HEALTH OF LARGEST CONTEMPORARY AND MODERN DANCE COMPANIES, PROVIDING THE MOST COMPREHENSIVE ANALYSIS TO DATE
Northfield, IL | October 31, 2024 | Today, the Dance Data Project® (DDP) releases its third Largest Contemporary and Modern Companies Report. This year’s report covers 125 companies, an increase from the 75 companies included in 2023, marking a substantial expansion in DDP’s annual analysis of contemporary and modern dance companies.
The report finds that in FY2022, the Largest 125 contemporary and modern companies operated with a total aggregate expenditure of $176,709,221. However, when compared to the Largest 125 ballet and classically based companies, which reported expenses 4.02 times higher than the Largest 125 contemporary and modern companies, a marked difference emerges in the operating scale between the two sectors.
“As we examine these numbers, it’s clear that contemporary and modern dance companies operate with far fewer resources than their ballet counterparts, yet they continue to play a vital role in the cultural landscape,” said Senior Research Consultant Junyla Silmon. “This data is essential for the modern and contemporary dance world, showing funders and audiences the fiscal realities these companies face,” Ms. Silmon added, “it’s a call to consider the funding inequities between classical dance and contemporary dance.”
For the first time, DDP has extended the analysis to examine company revenue for FY2021, FY2022, and preliminarily FY2023, offering new insights into the revenue landscape for these companies. The Largest 125 companies generated a total revenue of $217,912,129 in FY22 compared to the FY22 total expenses of $176,709,221, indicating a surplus over their expenditures for the year. However, the revenue gap remains pronounced, with the Largest 125 ballet and classically based companies generating 3.78 times more revenue than the Largest 125 contemporary and modern dance companies in FY22.
This year DDP also examined company fiscal surpluses and deficits for the first time. In FY22, among the Largest 125, 91 companies (72.80%) finished with a surplus, reflecting both resilience and the financial tightrope many organizations walk. 34 companies (27.20%) finished in deficit, indicating that the majority of companies reported a surplus at the end of FY22.
As of October 14, 2024, DDP sourced 117 FY23 990 filings, preliminary aggregate expenditures of $168,916,335—lower than the FY22 Largest 125 aggregate expenditure of $176,709,221. As these are only preliminary findings, the inclusion of missing 990s will most likely increase the overall aggregate expenditure. In compiling the FY23 data, DDP encountered delays due to IRS backlog in uploading annual filings to their website for public access, as well as companies filing for extension.
“DDP is taking a careful, step-by-step approach as we expand our research and reporting,” said Research Lead Jenna Magrath. “Each year, we’re refining our methods and broadening our scope to provide a deeper understanding of the dance industry’s financial ecosystem. This year’s findings are just one step forward in our ongoing effort to support transparency and equity in dance.”
“Instead of fashion magazines running articles about celebrities ‘cosplaying’ ballerinas or dancers, maybe it’s time to focus on the real world of modern and contemporary dance, where incredibly hardworking professional athletes and artists bring these forms to life,” said DDP President & Founder Elizabeth ‘Liza’ Yntema. “It’s up to journalists to go beyond galas, costumes, and the red carpet to look at the industry as a whole, with quantitative analysis of the economic challenges of the dance economy and accomplishments of those who drive it forward.”
The 2024 Largest Modern & Contemporary Companies Report is available on the Dance Data Project® Research Page or by download below.
