Museums showing an 'uncommercial' attitude to US$5.9bn touring exhibitions market, report finds | attractionsmanagement.com news
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Museums showing an 'uncommercial' attitude to US$5.9bn touring exhibitions market, report finds
POSTED 16 May 2019 . BY Andy Knaggs
Museums that host touring exhibitions are less concerned with profitability, seeking mostly just to cover their costs – in contrast to the tour operators themselves, who prioritise revenue generation over recouping costs in a market worth US$5.9bn (€5.3m, £4.6bn).

This is a key finding of a new report by Vastari, a technology company that tries to facilitate the connections between museums and collectors around the world, and which successfully matched content to more than 450 exhibitions in 2018. The report's valuation of the global museum exhibitions market is equivalent to almost 10 per cent of the entire global art market.

The disparity in commercial outlook between museums and exhibition operators can influence decision-making when striking deals over paying for setting up an exhibition and sharing ticket revenues. Many host institutions that rely on public money do not see themselves as commercial enterprises, and are also, therefore, less likely to go into partnership with commercial exhibition producers, according to the study – titled the Vastari Exhibition Finance Report.

"This shows how important it is for commercial producers of exhibitions to have a clear and deep understanding of their market, or they risk wasting a great deal of time and money targeting the wrong potential partners," commented Vastari CEO Bernadine Bröcker Wieder.

The disparity becomes more pronounced in certain geographical areas – specifically between European and US institutions.

"US institutions are more entrepreneurial, are privately funded and have smaller operating budgets. Fund-raising is much more central to day-to-day activity," notes Francesca Polo, Vastari's COO. "In Paris, on the other hand, institutions will strictly divide the commercial from the academic. The concept that you could have some crossover is really contentious."

The Vastari report also identifies differences in approach between science exhibitions and art exhibitions, with, for example, the priority of academic credentials over income generation being a far more contentious point with fine art exhibitions than scientific exhibitions.

The report looks at the state, scope and trends of global museum exhibitions, considering factors such as why institutions host or tour exhibitions, what budgets are, who they will or will not partner with, and their priorities and expectations from such ventures.

Bröcker Wieder said the report will "not only save organisations time and money, but it will also help them better target partners and budgets, assess risks, such as that for co-producers, and help them shape the nature and content of the exhibitions they put together".
Bernadine Bröcker Wieder (left) and Francesca Polo set up Vastari in 2013
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NEWS
Museums showing an 'uncommercial' attitude to US$5.9bn touring exhibitions market, report finds
POSTED 16 May 2019 . BY Andy Knaggs
Museums that host touring exhibitions are less concerned with profitability, seeking mostly just to cover their costs – in contrast to the tour operators themselves, who prioritise revenue generation over recouping costs in a market worth US$5.9bn (€5.3m, £4.6bn).

This is a key finding of a new report by Vastari, a technology company that tries to facilitate the connections between museums and collectors around the world, and which successfully matched content to more than 450 exhibitions in 2018. The report's valuation of the global museum exhibitions market is equivalent to almost 10 per cent of the entire global art market.

The disparity in commercial outlook between museums and exhibition operators can influence decision-making when striking deals over paying for setting up an exhibition and sharing ticket revenues. Many host institutions that rely on public money do not see themselves as commercial enterprises, and are also, therefore, less likely to go into partnership with commercial exhibition producers, according to the study – titled the Vastari Exhibition Finance Report.

"This shows how important it is for commercial producers of exhibitions to have a clear and deep understanding of their market, or they risk wasting a great deal of time and money targeting the wrong potential partners," commented Vastari CEO Bernadine Bröcker Wieder.

The disparity becomes more pronounced in certain geographical areas – specifically between European and US institutions.

"US institutions are more entrepreneurial, are privately funded and have smaller operating budgets. Fund-raising is much more central to day-to-day activity," notes Francesca Polo, Vastari's COO. "In Paris, on the other hand, institutions will strictly divide the commercial from the academic. The concept that you could have some crossover is really contentious."

The Vastari report also identifies differences in approach between science exhibitions and art exhibitions, with, for example, the priority of academic credentials over income generation being a far more contentious point with fine art exhibitions than scientific exhibitions.

The report looks at the state, scope and trends of global museum exhibitions, considering factors such as why institutions host or tour exhibitions, what budgets are, who they will or will not partner with, and their priorities and expectations from such ventures.

Bröcker Wieder said the report will "not only save organisations time and money, but it will also help them better target partners and budgets, assess risks, such as that for co-producers, and help them shape the nature and content of the exhibitions they put together".
Bernadine Bröcker Wieder (left) and Francesca Polo set up Vastari in 2013
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Country singer Dolly Parton's latest vision at her Dollywood theme park has been brought to life, with Wildwood Grove opening to the public at the attraction in Tennessee, US.
Snøhetta and Blight Rayner selected to design AU$150m theatre in Australia
Architecture firms Snøhetta and Blight Rayner have won an international competition to design an AU$150m (US$103.8m, €90m, £81.4m) theatre for the Queensland Performing Arts Centre (QPAC) in Brisbane, Australia.
Kew Gardens opens giant natural play zone
Inspired to encourage children to develop a lasting relationship with plants and nature, Royal Botanic Gardens, Kew in London is all set to open its giant new Children’s Garden to the public this weekend (18 May).
IAAPA returns to Shanghai in June with rebranded Asian expo
Formerly the Asian Attractions Expo, (AAE) the newly-rechristened IAAPA Expo Asia (IEA) takes its first steps under its new name from 11-14 June.
+ More news   
LATEST JOBS
Interpretation and Engagement Manager
Chatsworth House
Salary: Competitive
Job location: Bakewell, UK
Children's Garden Hosts
Royal Botanic Gardens Kew
Salary: £18,589 per annum pro rata
Job location: Richmond, UK
Senior Aquarist
Sea Life
Salary: Competitive
Job location: Mooloolaba QLD, Australia
Commercial Team Lead
Legoland Discovery Centre
Salary: Competitive
Job location: Auburn Hills, Michigan, USA
Commercial Duty Manager
Sea Life
Salary: Competitive
Job location: Grapevine, Texas, USA
Seasonal Operations Trainer
Legoland Discovery Centre
Salary: Competitive
Job location: Yonkers, NY, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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