Museums including the Natural History Museum and British Museum are diversifying revenue streams through licensing deals as operating costs rise, according to the Guardian.
The institutions are putting their brand and collections on commercial products ranging from hotel suites to clothing and virtual reality experiences. The Natural History Museum has partnered with Park Plaza London Riverbank to offer a family suite starting at £724 per night. The suite features interior design inspired by museum founder Sir Richard Owen, including Tyrannosaurus rex bunk beds.
The licensing strategy allows these museums to generate income while remaining free to visit. Rather than relying solely on traditional gift shop merchandise like T-shirts, cultural institutions are now leveraging their collections through premium branded experiences and products.
The shift reflects broader financial pressures on museums. The Guardian reports that rising costs have pushed institutions to seek alternative revenue sources beyond admission fees and donations.