DANCE DATA PROJECT® RELEASES FOURTH ANNUAL REPORT ON LARGEST U.S. CONTEMPORARY & MODERN COMPANIES: ALL LARGEST 10 COMPANIES IN DEFICIT; BALLET COUNTERPARTS GENERATE 5.5X MORE REVENUE
Northfield, IL | October 7th, 2025 | Dance Data Project® (DDP) today announces the publication of its fourth annual Largest U.S. Contemporary & Modern Dance Companies Report, expanded for the first time to include the Largest 150 companies, up from 125 companies in previous years. The report ranks nonprofit organizations by total expenditure, using IRS Form 990s for FY2023 to provide DDP’s most comprehensive view yet of the financial health of the U.S. contemporary and modern dance sector. This year’s analysis not only measures aggregate expenditure but also examines revenue, surpluses, and deficits, offering a clearer picture of the sector’s ongoing recovery and challenges in the post-pandemic economy.
“The inclusion of an expanded 150 company sample demonstrates DDP’s ongoing commitment to delivering the most comprehensive picture possible of the contemporary and modern dance economy,” said Junyla Silmon, DDP’s Senior Research Consultant and report lead. She continued, “These findings reflect a sector composed of organizations of every size and structure, from longstanding institutions with affiliated schools and centers to project-based companies navigating uncertain conditions. Our 4th annual report provides critical insight into how the field is evolving.”
In FY2023, the Largest 150 contemporary and modern companies reported combined expenditures of $206.6 million. For comparison, the Largest 125 operated with $203.3 million in expenditures–a 14.26% increase from the Largest 125 in FY2022 ($177.9 million). While the “Largest 125” is no longer an active categorization in this report, the year-over-year growth highlights how contemporary and modern companies are continuing to expand their operations and recover from the lingering effects of the pandemic.
But: while spending has increased, revenues have fallen sharply. The Largest 150 contemporary and modern companies generated $180.9 million in total revenue in FY2023, compared to $219 million for the Largest 125 in FY2022—a decline of $38.1 million, even with 25 more companies included. This gap between expenditure and income has left more than half of companies in deficit: 53% of the Largest 150 ended FY2023 with a negative balance, including all of the Largest 10 companies, a reversal from FY2022 when nearly three-quarters of companies reported a surplus. Key Finding: FY2023 marks the lowest reported revenue by DDP for the Largest 50 companies since FY2020, with total revenue of $146,095,635 compared to $135,482,641 in FY2020.
The report underscores the persistent financial disparity between contemporary and modern companies and their ballet counterparts. In FY2023, the Largest 150 contemporary and modern companies spent 4.02 times less and generated 4.36 times less revenue than the Largest 150 ballet companies. When companies appearing in both reports are removed, the imbalance grows even wider, with ballet companies operating at 5.22 times greater expenditure and 5.50 times greater revenue. The largest institutions continue to dominate the field’s financial landscape. The Largest 50 accounted for 82.76% of total expenditure in FY2023, with the Largest 10 alone representing over half–54.23%–of sector-wide spending.
“This year’s findings reveal a stark imbalance: while contemporary and modern companies are spending more, they are earning less, leaving many in deficit,” said DDP President and Founder Elizabeth “Liza” Yntema. She expanded, “The widening gap between these organizations and their ballet counterparts highlights the urgent need for equitable funding and sustained investment. Without it, a vital sector of the dance ecosystem risks continued instability.”
The full report is available at dancedataproject.com/research.
