Total Revenue for Arts, Entertainment, and Recreation, Establishments Subject to Federal Income Tax
REV71TPSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.30
Year-over-Year Change
-92.31%
Date Range
4/1/2009 - 1/1/2025
Summary
The Total Revenue for Arts, Entertainment, and Recreation, Establishments Subject to Federal Income Tax measures the total revenue generated by businesses in the arts, entertainment, and recreation sectors that are required to pay federal income tax.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This data series provides insight into the overall financial performance and economic activity of the arts, entertainment, and recreation industries. It is a key indicator for policymakers and analysts assessing the health and trends within these sectors.
Methodology
The data is collected and compiled by the U.S. Internal Revenue Service from tax returns filed by businesses.
Historical Context
This metric is widely used to monitor consumer spending patterns and gauge the broader economic conditions impacting entertainment, leisure, and cultural activities.
Key Facts
- The arts, entertainment, and recreation sector accounts for over 2 million U.S. jobs.
- Revenue in this industry grew by 18% from 2019 to 2022.
- Consumer spending on entertainment and recreation makes up approximately 5% of total U.S. personal consumption expenditures.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total revenue generated by businesses in the arts, entertainment, and recreation sectors that are required to pay federal income tax.
Q: Why is this trend relevant for users or analysts?
A: This data series provides valuable insight into the overall financial performance and economic activity of the arts, entertainment, and recreation industries, which is useful for policymakers and analysts assessing the health and trends within these sectors.
Q: How is this data collected or calculated?
A: The data is collected and compiled by the U.S. Internal Revenue Service from tax returns filed by businesses.
Q: How is this trend used in economic policy?
A: This metric is widely used to monitor consumer spending patterns and gauge the broader economic conditions impacting entertainment, leisure, and cultural activities, which informs economic policymaking.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data due to the time required for businesses to file their tax returns and for the IRS to compile the information.
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Citation
U.S. Federal Reserve, Total Revenue for Arts, Entertainment, and Recreation, Establishments Subject to Federal Income Tax (REV71TPSA), retrieved from FRED.