New study puts economic impact of Boston Symphony Orchestra at $261 million per year

Posted on: April 6, 2018

“The Boston Symphony Orchestra has an economic impact of more than $261 million [annually] on the state’s economy, according to a recent third-party analysis commissioned by the symphony,” writes Malcolm Gay in Friday’s (4/6) Boston Globe (subscription required). “That figure, provided by the study’s author, Williams College economics professor Stephen Sheppard, represents a 40 percent increase … since 2008, when he was a lead researcher on a similar study for the BSO. ‘Our models suggest that, directly or indirectly, nearly 2,400 jobs in Massachusetts exist because of BSO operations and the visitors attracted by BSO programming,’ Sheppard said in a prepared statement. ‘These jobs are in hundreds of different economic sectors—obviously in the performing arts but also in such diverse sectors as building services, retail and wholesale trade, insurance, health care, and data processing.’ Sheppard added that several factors led to the BSO’s increased economic impact, among them the BSO’s larger operating budget, increased visitor spending, and greater attendance at Tanglewood, where visitor figures have increased by 11 percent…. Managing Director Mark Volpe said … ‘This news is sure to serve as an added inspiration for all of us to continue our work to share our music-making.’ ”

Posted April 6, 2018

Pictured: Music Director Andris Nelsons and the Boston Symphony Orchestra at Symphony Hall