Financing museums: Towards alternative solutions? Evidence from Italy

Autoria: Alberto Romolini; Silvia Fissi; Elena Gori; Marco Contri
Ano: 2020

In recent years museums are experiencing the progressive decline in the public and governmental funding as a consequence of the recent crisis. Museums are currently competing for innovative forms of funding in order to attract new sources of financing like sponsorships and donations. In this perspective, the aim of this paper is to analyse new approaches to museum financing and fundraising in context, like continental Europe, characterised by high levels of competition and the decrease in public policies and funds. The research adopts a cross-case analysis focused on a group of 40 Italian State museums.The research confirms that the financing of museums is based on the prevalence of the public contributions, however, a growing role appears to be played by self-generated revenue. Indeed, the Italian State museums are currently far removed from sufficient fundraising and they need to innovate to achieve this goal developing appropriate marketing and communication strategies. An innovative financing model for a museum needs to be based on public funds, self-generated revenue and fundraising. In this perspective, managers need to work more diligently to develop fundraising strategies that can support the museum financing.