Museums in the UK generate the money they need to stay open, host exciting exhibitions and develop new galleries in a variety of ways.
A report looking into how the 15 museums that receive direct funding from the Department for Culture, Media and Sport (DCMS) generate additional income has revealed that there’s been a sharp drop in fundraising income.
However, in the same period the money generated from admissions has increased, Arts Professional reported.
The museums to receive direct funding from DCMS include the British Museum, Tate and Imperial War Museums. Although the income these institutions receive from fundraising has dropped to its lowest level since 2014, the establishments aren’t too concerned.
One of the main reasons for the drop is the completion of a number of large capital projects, which were carried out with money raised following targeted fundraising campaigns.
And fundraising income didn’t fall across the board, with some establishments such as the Natural History Museum and the National Portrait Gallery increasing the amount they raised last year.
It was admissions income that really picked up though, increasing to £48.7 million across the 15 museums last year. That’s a £4.6 million increase over 2016.
Although a report published earlier this year showed that visitor numbers to the UK’s top attractions dropped in 2017, many of the top ten visitor attractions were museums.
The BBC revealed that the top five were all museums in London, with the British Museum attracting the most people, followed by the Tate Modern, National Gallery, Natural History Museum and V&A Museum.
If funding is a challenge for your museum, don’t forget that you can arrange display cabinet hire for short-term exhibitions rather than having to purchase new display cases.