Museums Concerned about the Economy

Carol Vogel of the NY Times is reporting that museum executives are concerned about the how the various financial issues will impact both visitors and patron donations. Current trends at some museums have seen growth of visitors over the past year. One with positive growth is the NY Museum of Modern Art with the Van Gogh exhibit Colors of the Night. But many museum executives are no so sure on the future. Many hope there will be clearer signs by the end of the year.

Vogel reports museums are bracing for the effects of an economic crisis that could change everything from the size and kinds of exhibitions a museum presents to the acquisitions it could afford and the merchandise it should offer in its shops.

There is concern about future donations, and government subsidy cuts, along with planning issues for exhibits, but there also is a large group of corporate donors who plan on continued giving to cultural causes during the economic stress. Vogel reports that many corporations point out that cultural philanthropy is not only a way of building good public relations with arts audiences but also a way to telegraph that they are still in business and confident.

So, I guess the news is mixed. But like any other business, museums have to adapt to the times, be it changes in public opinion, popular culture, financial boom or bust.

To read the NY Times article, click HERE.