Industry revenue estimates have something to say about reality.
Take Hollywood, for instance. Despite all the talk of its tremendous power, the motion picture production industry rakes in only $9 billion a year.
Pornography, by contrast, bags more than $12 billion, including videos, TV programming, Internet sites, phone sex and strip clubs.
Wholesale sales of beer, wine and distilled spirits top more than $56 billion.
Gambling – casinos, state lotteries pari mutuel wagering, charitable gaming, and firms that manufacture slot machines – generates $68 billion in annual revenues.
Denver Post researcher Barry Osborne and I pulled the figures in this column mainly from news reports, trade reports and a website, Bizstats.com. While interesting, they are often years out of date and not attributed. Sometimes they come from government agencies, companies or trade associations. Other times, they are from researchers and analysts who may have a vested interest or an agenda.
For instance, the nation’s annual corn crop is worth $23.3 billion; soybeans, $17.6 billion; and hay, $12.2 billion, according to analyst Jon Gettman, who would like to legalize marijuana, a crop he says is worth nearly $36 billion a year.
Thanks to high-definition television, TV manufacturers were able to surpass computer makers in 2006, according to the Consumer Electronics Association. TVs are a $20 billion market, compared with the $19 billion market for computers.
Music recording is a $40 billion industry globally, including $1 billion worth of songs sold digitally. Electronic gaming is now a $30 billion industry. The traditional toy industry – Barbie dolls and Hot Wheels cars – is $20.1 billion.
Some are measured in millions. Like the salmon fishing industry in California and Oregon: $150 million. Or the alligator products industry: $30 million. Or the market for hunting rifles: $506 million.
According to the American Association for Nude Recreation, nude recreation and travel has grown from a $200 million business in 1992 to more than $400 million today. Thankfully, clothing and apparel accessory stores make up an exponentially greater $181 billion industry.
Not many industries are measured in trillions. The Internal Revenue Service is one of them. It counted $4.7 trillion in taxable income in 2004. Another is the $1.8 trillion U.S. health care industry, which sucks up more than $1 of every $7 spent in the nation’s economy.
The airline business is measured not by revenues but by losses. The industry appears to have turned a corner with profits in 2006, but since 2000, cumulative airline losses total about $42 billion.
Some industries don’t get much notice despite their enormous growth. The self-storage business, started only three decades ago, is now a $145 billion industry. People just don’t have enough room for all their stuff.
Is your spouse angry? Maybe that’s why the floral industry is $20 billion.
Weddings make up a $50 billion industry – two-thirds of which goes toward parties. Americans spend about $800 million on wedding gowns every year. Tuxedo rental is a $1.4 billion business.
Men’s grooming products – shaving cream, razors, hair gels, moisturizers – are expected to be a $10 billion business by 2008. The spa industry – facials, massages, herbal wraps – is already a $9.7 billion industry and growing at 18 percent a year. Cosmetic surgery – from face-lifts and breast enhancements to liposuction – is at $15 billion.
Restaurants expect $537 billion in sales in 2007, according to the National Restaurant Association. Fast-food restaurants take in about $135 billion. Casual dining places, such as Applebee’s or Chili’s, take in about $165 billion. The market for organic food, by contrast, is only $13 billion.
As a nation, we are addicted to caffeine. The specialty coffee market, led by Starbucks, is more than $11 billion. Ever try one of those energy drinks, loaded with caffeine and sugar, carrying names such as Red Bull, Rockstar, Monster and Cocaine? That’s now a $3.7 billion market.
Cigarettes and other tobacco products is about a $115 billion industry, which actually keeps another industry quite healthy: The $11 billion funeral industry.
Al Lewis’ column appears Sundays, Tuesdays and Fridays. Respond to Lewis at denverpostbloghouse.com/lewis, 303-954-1967 or alewis@denverpost.com.
