First Research US Industry Profile

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Museums, Zoos & Parks
SIC Codes: 7999, 8412, 8422
NAICS Codes: 7121
Last Quarterly Update: 5/20/2019
Companies in this industry operate museums, historical sites, zoos, botanical gardens, parks and other institutions focused on preserving and exhibiting works of cultural or natural significance. Major US museums include the Smithsonian (National Museum of Natural History, National Museum of American History, and National Air and Space Museum), the Metropolitan Museum of Art, the American Museum of Natural History, and the National Gallery of Art. Top US zoos include San Diego Zoo, Lincoln Park Zoo (Chicago), and St. Louis Zoo.
Major institutions based outside the US include the Musée du Louvre in Paris; Beijing's National Museum of China; and London's British Museum, National Gallery, and Tate Modern. The International Council of Museums estimates that there are about 55,000 museum establishments in more than 200 countries worldwide. This industry also includes an estimated 10,000 zoos and aquariums, according to the World Association of Zoos and Aquariums.
The US museums, zoos, and parks industry includes about 7,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $14 billion. Establishments in the US industry include about 5,100 museums, 1,200 historical parks, 650 zoos and botanical gardens, and 710 nature parks and similar institutions.
Most institutions in the industry are nonprofits. Historical sites and parks are often operated by federal, state, local, and tribal government entities.
Competitive Landscape
Demand is partly linked to growth in local income and to tourist travel. The profitability of individual institutions depends largely on good marketing. Large institutions have the advantage of name recognition or proximity to mass tourism areas. Small institutions can compete successfully by concentrating on specialty topics, or by operating in a favorable location. The US industry is fragmented: the top 50 institutions account for about 30% of revenue.
Products, Operations & Technology
About 35% of revenue comes from contributions and grants from private and government sources. Admission fees account for about 20%. Other sources of revenue ... plus:
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Finance & Regulation
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Regional & International Issues
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Human Resources
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