What's the long-term benefit of staying active during economic downturns?

Economic slumps feel long when you’re in them, but history shows recovery is usually swift and favors those who keep producing, connecting, and innovating. The average bear market lasts nine and a half months, with bull runs lasting far longer. Past recessions have shown dramatic recoveries - after the 2008-2009 downturn when art sales dipped 28%, they rebounded strongly in 2010. After COVID when sales dropped 22% to $50 billion, they surged 29% to $65 billion in 2021, exceeding pre-pandemic levels. Those who stay proactive during downturns typically win big when the rebound comes. You’re going to be a creative for the rest of your life regardless of economic conditions, so the foundation you build now - the marketing skills, revenue diversification, lean operations, relationship building - sets you up for massive future growth.

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Asked by artists worried about the future · Answered by Patrick Shanahan · art-marketing-podcast · 2025-04-24