Art Galleries and Museums in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: March 2024
ANZSIC R8910Revenue
$2.5bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
9,177
Businesses
1,091
Wages
$XXX.Xm
Art Galleries and Museums in Australia industry analysis
The Art Galleries and Museums industry managed to largely avoid the negative impacts of the COVID-19 pandemic. Mandatory closures during lockdowns initially affected revenue, with stringent social distancing rules and restrictions on the number of allowable attendees limiting income from admission sales. Despite these challenges, galleries and museums have shown resilience, rebounding and maintaining revenue from a boost in government funding. These organisations have since seen resurgent growth, driven by restrictions lifting and ticket sales returning.
Trends and Insights
- Despite the challenges imposed by the COVID-19 pandemic, the Art Galleries and Museums industry has largely dodged its negative impacts. Greater government support helped counteract ticket sales lost due to pandemic restriction.
- Social distancing and lockdown restrictions reduced the number of school tours, weakening demand from kids aged under 15. Even so, art galleries and museums created online activities for this age bracket during the lockdowns.
- Art galleries and museums tend to be concentrated in line with population density and household engagement in cultural activities. The largest players are located in capital cities like Sydney, Melbourne and Brisbane.
- Art galleries and museums compete based on their collection's novelty and significance to the region in which they are located. Large venues are increasingly bringing in exhibitions from abroad to boost attendance and revenue.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.3 % over the past five years, to reach an estimated $2.5bn in 2024.
Trends and Insights
Art galleries and museums showed resilience amid pandemic-related challenges
- Despite the challenges imposed by the COVID-19 pandemic, the Art Galleries and Museums industry largely dodged its negative impacts, with revenue continuing to climb.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Strengthening government funding is poised to boost venues' expansion
- Funding from the government is the largest source of income for many galleries and museums. State, territory and local government funding for art galleries and museums will steadily climb over the coming years and offset any potential decline in funding from the Federal Government.
Biggest companies in the Art Galleries and Museums in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
The Museum of Old and New Art | 68.2 | |
The National Gallery of Australia | 68.2 | |
Australian War Memorial | 51.1 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Art gallery exhibitions, Museum exhibitions and Merchandise sales. Art gallery exhibitions is the largest segment of the Art Galleries and Museums in Australia.
Trends and Insights
Art gallery exhibitions were forced to shutter during the height of pandemic restrictions
- Art galleries house various artworks, including paintings, sculptures and art installations. While most art galleries offer free admission, select exclusive or specialised exhibitions, especially those from foreign countries, may require an admission fee of more than $30 per adult.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Libraries and Archives in Australia
- Nature Reserves and Conservation Parks in Australia
- Performing Arts Venues in Australia
- Amusement Parks and Centres Operation in Australia
Complementors
- There are no industries to display.
International industries
- Museums in the US
- Historic Sites in the US
- Art Galleries and Museum Operation in New Zealand
- Libraries, Museums & Cultural Activities in the UK
Table of Contents
About this industry
Industry definition
Industry operators run and manage art galleries and museums across Australia. The industry also includes businesses that operate historic houses. Firms mainly preserve and exhibit heritage objects and artefacts that have cultural, historical or aesthetic value. Retail galleries selling art pieces and artefacts are not included in the industry.
What's included in this industry?
Art gallery exhibitionsMuseum exhibitionsMerchandise salesFood and beverage salesVenue hireToursCompanies
The Museum of Old and New ArtThe National Gallery of AustraliaAustralian War MemorialPurchase this report to view all 3 major companies in this industry.
Related Terms
INTERACTIVE DISPLAYSSOCIAL HISTORY MUSEUMNICHE OPERATORSIndustry Code
ANZSIC 8910 - Art Galleries and Museums in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Despite the challenges imposed by the COVID-19 pandemic, the Art Galleries and Museums industry has largely dodged its negative impacts. Greater government support helped cou...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Social distancing and lockdown restrictions reduced the number of school tours, weakening demand from kids aged under 15. Even so, art galleries and museums created online ac...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Art galleries and museums tend to be concentrated in line with population density and household engagement in cultural activities. The largest players are located in capital ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Art galleries and museums compete based on their collection's novelty and significance to the region in which they are located. Large venues are increasingly bringing in exhi...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Larger venues mostly rely on government funding, but visitor tickets remain a significant earning opportunity. Some smaller galleries and museums depend heavily on revenue fr...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of The Museum of Old and New Art's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The National Gallery of Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Australian War Memorial's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for The Museum of Old and New Art, and factors influencing its performance in the industry
- Description and key data for The National Gallery of Australia, and factors influencing its performance in the industry
- Description and key data for Australian War Memorial, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Publicly owned art galleries and museums obtain considerable operating and capital works grants from governments. Some major venues receive continuing government assistance, ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Despite the temporary forced closure of galleries and museums cutting into ticket admission revenue, greater government funding supported revenue growth. Profit margins have ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Art Galleries and Museums industry in Australia in 2024?
The market size of the Art Galleries and Museums industry in Australia is $2.5bn in 2024.
How many businesses are there in the Art Galleries and Museums in Australia industry in 2024?
There are 1,091 businesses in the Art Galleries and Museums industry in Australia, which has declined at a CAGR of 0.5 % between 2019 and 2024.
Has the Art Galleries and Museums industry in Australia grown or declined over the past 5 years?
The market size of the Art Galleries and Museums industry in Australia has been growing at a CAGR of 3.3 % between 2019 and 2024.
What is the forecast growth of the Art Galleries and Museums industry in Australia over the next 5 years?
Over the next five years, the Art Galleries and Museums industry in Australia is expected to grow.
What are the biggest companies in the Art Galleries and Museums market in Australia?
The biggest companies operating in the Art Galleries and Museums market in Australia are The Museum of Old and New Art, The National Gallery of Australia and Australian War Memorial
What does the Art Galleries and Museums in Australia include?
Art gallery exhibitions and Museum exhibitions are part of the Art Galleries and Museums industry.
Which companies have the highest market share in the Art Galleries and Museums in Australia?
The company holding the most market share in Australia is The Museum of Old and New Art.
How competitive is the Art Galleries and Museums industry in Australia?
The level of competition is high and increasing in the Art Galleries and Museums industry in Australia.
