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Museums Seek Federal Bailout Amid Prolonged Closure

March 24, 2020
The Met

“The Met” by michelle.irish is licensed under CC BY-NC-SA 2.0

As our government still tries to get a grip on the heath crisis our country (and the world) is facing, cultural institutions are pleading with congress to include them in the impending bailout package expected to be passed. Today, the biggest player in the game – The Metropolitan Museum of Art – announced a social media campaign to bolster the efforts. According to a press release from the Met, museums are projected to lose $33 million a day from mandated closures. Further, it is estimated that 30% of museums will have trouble reopening without immediate assistance from the government. At the Met, staff is being paid through April 4th (which is 11 days from this post)… but is expected to remain closed until July. All things considered, the Met is projecting a budget shortfall of as much as $100 million… extrapolate that projection on all institutions, and collectively they are looking for $4 billion! Then again, the package under consideration by congress is a staggering $2 TRILLION, so saving our cultural institutions is just a drop in the bucket.


Source: The Metropolitan Museum of Art Is Calling on the US Government to Bail Out At-Risk Museums With $4 Billion in Aid | artnet News