Industry Analysis & Industry Trends
Players in the Libraries, Museums and Cultural Activities industry are predominantly non-profit organisations and rely on public funding for a portion of their income. This can come from grants, local council funding or some other form of support. The industry's revenue growth has been volatile over the past five years. Its reliance on government funding has left it exposed to funding cuts as the government attempts to rein in the budget. A number of enterprises have been forced to close, particularly libraries, which are especially dependent on government backing.
Over the five years through 2012-13, it is estimated that industry revenue decreased at a compound annual rate of 7.0%, to reach £1.3 billion... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Libraries, Museums and Cultural Activities industry has a moderate level of market share concentration. Industry concentration refers to the extent to which the top players dominate the industry. In 2012-13, the top four players account for 51.3% of the industry's revenue. Although the industry has a number of very large and very firmly established players, some of which operate over a number of locations, there are also a number of far smaller, niche operators, which are often private or community-operated. In many cases, there is very little direct competition between the large players and the smaller ones. Due to the high level of government involvement and significant barriers to entry in the top end of the market, this is likely to remain the state of play for some time... purchase to read more