Museums in UK expand revenue through new licensing deals and experiences
UK museums are increasing income by selling branded merchandise and immersive experiences as funding cuts continue.
Hotels offer themed stays
The Natural History Museum now sells a family suite at the Park Plaza London Riverbank hotel. This accommodation costs from £724 and features interior designs inspired by Sir Richard Owen. Guests can sleep in bunk beds shaped like Tyrannosaurus rex skeletons inside this room.
Merchandise sales rise sharply
Overall UK sales of licensed merchandise reached $19.2bn last year according to Licensing International. The art property category grew by more than 8% during that same period. Attractions and promotions saw an even larger increase of 53% in the market figures.
Programme growth continues
Louisa Skevington stated that their licensing programme grows consistently at about 15% year on year. She noted that experiences are becoming an increasingly important part of their strategy. The museum aims to bring its stories to people wherever they are located.
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