Museums, Zoos & Parks Industry Profile

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 American Museum of Natural History, the Metropolitan Museum of Art, the National Gallery of Art, and the Smithsonian (National Museum of Natural History, National Museum of American History, and National Air and Space Museum). Top US zoos include Lincoln Park Zoo (Chicago), San Diego Zoo, 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. According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), there are about 104,000 museums, globally.

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 $20 billion.

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 ...