Hill Strategies has reviewed their work and provided an overview of trends from 1996/97 to 2005/06. Trend information existed for about 75 institutions - 29 public museums, 34 public art galleries, 11 university-affiliated museums or galleries, and one artist-run centre. Findings:
- total revenues increased by 15% over the 10 year period (after adjusting for inflation) - 68% of the institutions registering a real increase in revenues - of all revenue categories, private sector revenues grew the fastest (38% increase after adjusting for inflation)
- total expenses also grew by 15% after inflation
- art galleries experienced stronger revenue growth than museums - up 20% over the ten year period, compared to 12% for museums
- from 1996/97 to 2005/06, there were minor shifts in revenue sources: government funding decreased from 71% to 69% of total revenues; earned revenues increased from 20% to 22%; private sector funding increased from 7% to 9%
- attendance was relativelys stable over the decade (in spite of population growth) - 10.1 milion in 1996/97 to 10.2 million in 2005/06
- the smallest museums and galleries (revenues under $500,000 in 1996/97) experienced the highest growth in revenues (62% after adjusting for inflation) - and experienced the highest growth in private sector revenues (more than a threefold increase after inflation).
Source: http://artsresearchmonitor.com/article_details/php?artUID=50390
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