Attending a live concert or theatrical performance can be a thrilling experience. At their best, the performing arts represent the height of human creativity and expression. But the presentation on stage, whether it is Shakespeare, Beethoven, or The Lion King, depends on a business backstage. This book provides an overview of both the product on stage and the industry that makes it possible. While the industry's product is unique--with unique supply and demand characteristics-- it is still an industry, with economic inputs, organization structures, competitors, business models, value chains, and customers. We will examine each of the major segments (Broadway, regional theater, orchestra, opera, and dance) along these business dimensions. The challenges facing the performing arts industry in America are well known. Many companies struggle to survive, and there have been some high-profile bankruptcies. Participation rates are falling, audiences are aging faster than the general population, season ticket sales are in decline, and gift-giving levels are hard to sustain in today's economy. The value of the arts and arts education are in question, and both have largely disappeared from public policy agendas. Yet there are bright spots. Some companies are thriving, enjoying sold- out performances, extended runs, and healthy balance sheets. The Metropolitan Opera's Live in HD series continues to be widely successful. Some Broadway productions have turned into global, billion-dollar businesses. Admission to professional schools of the performing arts is more competitive than ever, and the caliber of graduates is astonishingly high. At the nonprofessional level, there is no shortage of community productions across all genres and geographies. Why do some companies struggle and some thrive? Despite trends that appear uncontrollable, management decisions have a huge impact on economic outcomes. This book examines the range of product, market, and resource choices available to performing arts managers and provides practical examples in key areas such as programming, venues, performer relations, marketing, and fund-raising.