Insight
The future of financial sustainability American Alliance of Museums releases annual TrendsWatch report
I
n a time of financial uncertainty for the global museum community, this year's TrendsWatch report from the American Alliance of Museums (AAM) and the Center for the Future
of Museums (CFM) is seeking to provoke discussion and find viable solutions to these ongoing challenges. Exploring important culture, technology, economic, environmental and policy events, the American Alliance of Museums and the Center for the Future of Museums' annual TrendsWatch Report identifies trends that will shape the way museums worldwide will do business and engage visitors. The future of financial sustainability is the focus of this year's report. With funding models disrupted museums are in a position where they must improve financial discipline, business planning and data literacy in order to remain profitable.
■■Charitable income makes up a significant portion of most museum
Earned income Earned income consists of the money
funding models and is one of the four
a museum makes from selling a
highlighted areas in this year's report
product or service to someone at a price the consumer feels is worth the cost. A museum's income applies even if attendance is free entry, as visitors will spend money in places such as the café or the gift shop.
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Issue 153
