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. In this environment, new, visually exciting, imaginative and interactive educational displays and special exhibitions have been developed in order for the industry to attract new visitors and retain existing ones. Art galleries and museums, therefore, have to continue to re-invent and re-position themselves to attract interest and draw in visitors, particularly as competing industries continue 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 27.6% of industry revenue in 2013-14. The eight largest operators are estimated to account for 40.6% of industry revenue for the year. The industry concentration level has declined in the past five years with more museums and art galleries opening up and competing with established organisations. IBISWorld estimates the four largest firms accounted for 39.2% of industry revenue in 2008-09.
Despite the decrease in recent years, industry concentration is forecast to remain steady in future years through 2017-18. This will be mainly due to the level of government funding available, with the majority of funding continuing to be received by the large establishments... purchase to read more