Industry Analysis & Industry Trends
The Art Galleries and Museums industry has achieved modest growth in a highly competitive environment. Art galleries and museums contend with other leisure, sporting and entertainment organisations for their share of consumer expenditure and government funding. As such, the industry has developed new, special exhibitions and interactive educational displays to attract new visitors and retain existing patrons. Art galleries and museums have continued to reposition themselves as social institutions, widening their appeal to new audiences and helping them secure government grants.
Successful art gallery and museum operators have made use of existing and emerging digital media to offer online virtual museums... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry are factors that may prevent or limit a new operator from starting up in the industry. Key factors used to assess the barriers to entry include economies of scale, capital intensity and access to government grants. Overall, barriers to entry are lower for smaller size establishments in the industry, but barriers increase in terms of obtaining ongoing funding commitments from the government and businesses, due to the dominance of the larger operators.
The main barrier to entry relates to the ability and cost in acquiring a collection of items that are either worthy of display in their own right or are of significant public interest... purchase to read more