Industry Analysis & Industry Trends
Not yet history
The success of museums is tied to how much disposable income the public is willing to spend on visiting museums, and how many private donations are made to the establishment. During the recession, both of these factors decreased, but as the economy moves toward recovery, the industry should experience growth. However, growth may be stifled as digital walk-throughs of museums gain popularity... purchase to read more
Industry Report - Industry Analysis Chapter
The majority of museums in the United States are nonprofit institutions, meaning they obtain tax-exempt status from the IRS. Although these institutions may generate a profit, this money must be used by the museum. In contrast to nonprofits, for-profit museums do not have the same access to federal funding, foundation grants or tax-exempt donations. According to the latest Census data, about 9.4% of museums are for-profit.
The industry encompasses a wide variety of museums, including art museums, community and historical museums, interactive museums, military museums, natural history museums, science museums and wax museums. The industry also includes halls of fame, art galleries, planetariums and traveling museum exhibits... purchase to read more