Industry Analysis & Industry Trends
The Art Galleries and Museums industry operates in a highly competitive environment, competing against other leisure, sporting and entertainment industries for its share of consumer expenditure and government grants and funding. Consequently, the industry has been developing new, visually exciting, imaginative and interactive educational displays and special exhibitions to attract new visitors and retain existing ones. Art galleries and museums have had to continue to re-invent and re-position themselves to attract interest draw in visitors and gain government grants, particularly as competing industries have continued to undertake similar programs to increase patronage and revenue... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry has a low concentration level with the largest four operators accounting for an estimated 22.8% of industry revenue in 2014-15. The eight largest operators are estimated to account for 35.7% of industry revenue for the year. The industry concentration level has declined in the past five years, as more museums and art galleries have opened up and competed with established organisations. IBISWorld estimates the four largest firms accounted for 23.2% of industry revenue in 2009-10.
Despite the decrease in recent years, industry concentration is forecast to remain steady over the five years through 2019-20. This will be mainly due to the level of government funding available, with large establishments continuing to receive the majority of funding... purchase to read more