Entrepreneurial Potential of Performing Art to Nigeria's Economic Development.

Abstract:

This research paper is an investigation to ascertain the Entrepreneurial Potential of Performing Art to Nigeria’s Economic Development. The objective of the study is to identify entrepreneurial potentials in performing Art, to determine the business viability of performing Art industry and to ascertain how entrepreneurs in performing Art industry can contribute to Nigeria’s economic development. A descriptive survey research design was adopted for the study. The sample of the study was achieved using random sampling technique. The sample for this study was 69 respondents. These selected sixty nine (69) respondents were performing art professionals which include Nollywood actors and musicians in Asaba Delta State, Nigeria. Instrument used to collect data was the questionnaire. The data collected were analyzed using simple percentage, mean, standard and chi square. The overall findings of the study are that there is entrepreneurial potential in performing Art through payment of fees for performing at Events, including festivals. This can be ticketed performance art events or it can be within wider events or earned fees from acting in a Nollywood movie, Intellectual property earning for celebrities and sales of art products and services as well as production of artifact. The study also revealed that there is significant and positive connection between Performing Art and profitability and it was also discovered that entrepreneurial innovation made Performing Art possible and a viable business model. High demand for entertainment, global acceptance of performing Art products has made performing Art a viable business model for Nigeria’s economic development and transformation. The study recommends that for theater practice to be feasible and for the personal talents, ideas, and creative contributions of the artists to be effective and contribute to the economic development of Nigeria, entrepreneurial skills are necessary and a prerequisite.