Industry Analysis & Industry Trends
During the five years to 2014, the Museums industry was adversely affected by declining disposable income and lower consumer confidence brought on by the recession. However, conditions began to turn around, with the majority of museums reporting an increase in attendance, a trend that has continued throughout the five- year period. Furthermore, improving economic conditions resulted in a rise in private donations, the largest source of industry revenue. In the five years to 2019, revenue growth will be bolstered by a rise in disposable income, a decline in unemployment and enhanced consumer confidence. Still, industry revenue will be partly offset by limited government funding and the rising availability and popularity of virtual tours... purchase to read more
Industry Report - Industry Products Chapter
The Museums industry encompasses a wide variety of institutions. The vast majority of industry enterprises are nonprofit and state-funded institutions aimed at the promotion of culture for the public good. However, an estimated 9.4% of these institutions operate on a commercial basis and generate income through admissions fees and membership subscriptions.
Art museums and galleries
Art museums and galleries represent the largest industry segment, accounting for an estimated 44.0% of industry revenue in 2014. Art museums and art galleries are used for the exhibition of art, typically visually art, and can include both public and private institutions. This segment includes contemporary art museums, decorative art museums and fine art museums... purchase to read more