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
Jan 29, 2025 - Revenue Up in Q3
- Total revenue for museums, historical sites, and similar institutions grew year over year for the third consecutive quarter in 2024, reaching $6.6 billion in Q3 2024, according to the US Census Bureau. Revenue was up 10.6% year over year in Q3 2024 and up 3.8% from the previous quarter. Employment by museums, zoos, and parks increased 4.1% in December 2024 compared to a year ago, according to the US Bureau of Labor Statistics. Average wages for nonsupervisory employees at museums, zoos, and parks rose 3.2% in November 2024 year over year, reaching $24.28 per hour. Consumer spending has also improved, rising 2.9% in November 2024 compared to a year ago and up 0.3% from the previous month, according to the Bureau of Economic Analysis.
- Consumer confidence levels declined in December 2024, falling by 8.1 points from the previous month, according to The Conference Board. The Consumer Confidence Index was 104.7 in December 2024 from 112.8 in November 2024. Dana Peterson, chief economist at The Conference Board, noted that those remaining most confident on a six-month moving average basis confidence were those aged under 35 and those in the income category of over $100,000. Per Peterson, “The recent rebound in consumer confidence was not sustained in December as the Index dropped back to the middle of the range that has prevailed over the past two years.” Purchasing plans for homes decreased while plans to buy new cars and big-ticket items rose in December 2024 on a six-month average basis.
- 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.”
- Museums, zoos, and parks will have to monitor minimum wage changes in 2025, as 21 states and 50 local jurisdictions increased their minimum wage levels, according to Chain Store Age. States with the highest minimum wage in the US are Washington ($16.66 per hour), California ($16.50), and New York ($16.50). Nearly 30 cities in California and seven towns in Washington will raise minimum wages in 2025, with Tukwila, Washington, offering the highest minimum hourly wage in the US at $21.10. According to the Economic Policy Institute, the minimum wage changes will affect more than $9 million workers and raise pay by a combined $5.7 billion. Unchanged since 2009, the federal minimum wage is $7.25 an hour, and some 20 states, primarily located in the South and the Midwest, use the federal minimum as their wage floor.
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