mar, Mai 21st 2024
Zurich Kunsthaus struggles with growing financial deficit, contemplating subsidy increases and higher ticket prices.
The Zurich Kunsthaus is in financial difficulties. The Kunstgesellschaft, which runs the museum, is over-indebted. It is now considering asking the city and canton for an increase in subsidies. Higher ticket prices are also under discussion.
The Kunstgesellschaft’s financial deficit grew from CHF 2.8 million to almost CHF 4.5 million in 2023. This is revealed in the annual report, which was also reported on Tuesday by “Inside Paradeplatz”. In its report, the auditing firm concluded that the Kunstgesellschaft is overindebted.
In its annual report, however, the association, headed by former National Bank President Philipp Hildebrand, is convinced “that the solvency and also the ability of the association to continue as a going concern are assured”. The Kunstgesellschaft remains solvent. For this reason, it has also refrained from notifying the court.
The Kunsthaus is therefore not going bankrupt but must restructure itself financially. The board of the Kunstgesellschaft “is aware that the loss must be offset”. It lists a whole series of measures to be taken, such as “creating more efficient structures” and renegotiating supplier contracts.
However, visitors are also likely to feel the effects of the measures: Pricing, i.e., ticket prices, and the number of exhibitions are to be “redefined” from 2025. These are the largest variable cost blocks.
The Board is also considering approaching the city and canton for an increase in subsidies. The city of Zurich already paid subsidies of around CHF 13.2 million in 2023. The canton contributed CHF 730,000.
The Kunstgesellschaft itself describes the loss in 2023 as “considerable”: it amounted to just under CHF 1.6 million. It was already CHF 1.4 million in 2022. There are many reasons for this.
Visitor numbers, for example, fell significantly. Last year, around 503,000 art lovers visited the museum. Compared to the previous year, this was 9.2% less. Ticket revenue fell accordingly from CHF 5.2 million to CHF 4.5 million.
The figures for art education also showed a downward trend: The Kunsthaus took in 29% less with guided tours and 6% less with workshops. Income from guided tours was much higher in the previous year due to the successful Niki de Saint Phalle exhibition. Such a crowd-puller was missing in 2023.
There was also a drop in income at the museum store: Because it was closed for several weeks due to asbestos removal, income fell from CHF 2.4 million to CHF 2.1 million.
At the same time, the Kunsthaus was confronted with higher expenses. For example, the temporary storage of artworks, which amounted to around CHF 443,000, or the cost-of-living adjustment for the 250 employees.
©Keystone/SDA
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