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As the digital landscape evolves, museums are increasingly leveraging online platforms to diversify their revenue streams. A recent survey of 242 museum professionals conducted by MuseumNext in July 2024 shed light on how institutions are generating income online and their strategies for engaging virtual audiences.
Tom Anstey | Planet Attractions | 29 Oct 2024
As the digital landscape evolves, museums are increasingly leveraging online platforms to diversify their revenue streams. A recent survey of 242 museum professionals conducted by MuseumNext in July 2024 shed light on how institutions are generating income online and their strategies for engaging virtual audiences.
Key Revenue Sources
The survey highlighted that museums are focusing primarily on a few core revenue channels. Here’s a breakdown of the most significant contributors:
• Online Ticket Sales (76%): A large majority of museums are capitalizing on online ticketing systems to streamline access to exhibitions and events.
• Donations (53.9%): Encouragingly, more than half of the museums surveyed have established online donation mechanisms, underlining the growing importance of digital philanthropy.
• Membership Subscriptions (48.4%): Subscription-based memberships are proving popular, allowing museums to build recurring income from loyal supporters.
• Online Gift Shops (40.6%): Many institutions have launched e-commerce ventures, extending their retail reach to virtual visitors.
• Online Workshops and Classes (14.3%): Educational offerings, including workshops, are gaining traction as both free and paid events, giving museums new avenues to monetize their expertise.
• Licensing of Digital Content (13.8%): While less prevalent, licensing content like images and videos offers a scalable model for some institutions.
• Virtual Tours (4.1%): Although currently a niche market, virtual tours are evolving as a supplemental revenue stream.
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