A third of American museums may close permanently

Because of the coronavirus, they suddenly lost their income.

A third of American museums, 12 thousand organizations that closed their doors because of the coronavirus, may have closed forever.

This is stated in a study conducted by the American Alliance of Museums (AAM).

The artworld is in a “complicated financial situation,” according to the study, which interviewed the Directors of 760 museums. The survey was conducted from June 8 to June 30.

“Museum revenues disappeared overnight when all cultural institutions were closed due to the pandemic, and unfortunately, many of them will never recover,” said AAM President and CEO Laura Lott.

The study showed that almost 90 percent of museums have enough reserves to maintain their operation for no more than 12 months. Just over half, 56 percent, will be able to cover their operations for no more than six months.

At the same time, 33 percent of Museum Directors do not think that they can last more than 16 months without financial assistance.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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