Museums, Zoos and Parks
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 7,400 firms operating museums, zoos and parks in the US earn revenue from contributions, gifts, and grants (public and private sources); admission fees; investment income; and resale of merchandise. Museums preserve and exhibit objects of historical, cultural and/or educational value. Historical sites involve the preservation and exhibition of sites, buildings, forts, or communities that are related to events or persons of historical significance. Zoos exhibit animal life displays. Natural parks are natural areas designated for the enjoyment of the public.
Dependence on Donations
Museums, natural parks, zoos, and related organizations are highly dependent on contributions, gifts, and grants, which account for 35% of revenue.
High Value Exhibits
Many museums, zoos, and historical sites house valuable, sometimes irreplaceable, objects or animals.
Industry size & Structure
The average museum employs 19 workers and generates about $2.6 million annually. The average historical site employs 13 workers and generates about $1.2 million annually. The average zoo employs about 65 workers and generates about $7 million annually. The average natural park employs 13 workers and generates about $1.6 million annually.
- The museum, natural park, and zoo industry consists of about 7,400 firms that employ about 172,000 workers and generate $17 billion annually.
- The museum industry is fragmented; the top 50 companies account for about 45% of industry revenue. The historical site, zoo, and natural park industries are more concentrated, with the top 50 companies accounting for 60-66% of industry revenue.
- Museums account for about 65% of industry revenue and 70% of firms. Zoos and botanical gardens account for 23% of revenue and 9% of firms. Historical sites account for 6% of revenue and 13% of firms. Natural parks account for 5% of revenue and 8% of firms.
- Large organizations include the Smithsonian Institution, the Art Institute of Chicago, and the San Diego Zoo.
Industry Forecast
Museums, Zoos and Parks Industry Growth
Recent Developments
Mar 27, 2025 - Park Service Faces Staffing, Lease Cuts
- The National Park Service is managing a series of staffing and real estate decisions implemented by the new Trump administration, including eliminating 1,000 probationary staff and canceling more than 30 NPS building leases that house visitor centers, law enforcement offices, and museums. According to a statement by Kristen Brengel, SVP of government affairs for the National Parks Conservation Association, “As peak travel season arrives, park visitors will have to contend with closed visitor centers and campgrounds, canceled ranger programs, and less search and rescue staff. If building leases are canceled, it will make these problems worse.” The San Francisco Gate reports that the Department of the Interior is offering NPS employees separation incentives, including severance payments of up to $25,000 to leave the agency this spring. Two US District Court judges have ordered that all fired probationary workers be reinstated, including the 1,000 NPS employees, but the agency has appealed the orders.
- The National Park Service (NPS) reported a 2% increase in attendance in recreational visits in 2024, reaching a record 331.0 million visits. The total includes 404 of the 433 National Park System units that report visit use. Of the 404 parks, 28 parks set a record for annual recreation visits. Overnight stays at concession-operated lodging were up 11.7% in 2024 year over year. NPS reported that visitors are spreading out their visits throughout the year. About 55% of parks recorded an above average number of visits in February through June and October through December. National parks were most popular type of NPS-managed site, accounting for 28% of all recreational visits in 2024, followed by national recreational areas (16%), and national memorials (12%).
- Consumer confidence levels, an indicator of discretionary spending, have fallen due to consumer anxiety about tariff effects and economic uncertainty, according to a report in CFO Dive. The consumer sentiment index from the University of Michigan dropped 11% in March 2025, marking the third straight month of declines and hitting the lowest level since November 2022. In addition, the Conference Board index of consumer confidence fell in March 2025. According to Stephanie Guichard, senior economist for global indicators at the Conference Board, “Consumer confidence declined for a fourth consecutive month in March, falling below the relatively narrow range that had prevailed since 2022.”
- A 2024 survey from the American Alliance of Museums (AAM) found that only half (51%) of museums have recovered to 100% or more of their pre-pandemic attendance levels or financial health. This is an improvement from 2023, when only a third of museums reported reaching pre-pandemic attendance levels. While charitable donations increased in 2024, a sustainability challenge remains with 61% of museums reporting the number of individual donors has stayed the same or decreased in the past five years. Predicting the significant disruptions to next year, nearly half of respondents expect shifts in philanthropy (48%) and financial/market instability (46%) followed by a reduction or elimination of government funding (33%). Four hundred museum directors responded to the survey conducted by Wilkening Consulting. According to AAM CEO and President Marilyn Jackson, “While museums strive to fill important gaps in their communities, they face significant challenges. The findings of this year’s report paint a clear picture that the museum field is still on the path to recovery from the impacts of the pandemic and will continue to be vulnerable to significant disruptions.”
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