The Prado foresees a 65% drop in income due to the pandemic

The three months that the Prado museum was closed this year and the collapse of the public influx generated by the health crisis will translate into a 65% drop in income for this year, as predicted by the gallery. The museum, the most visited in Spain and the fifth in the world, recognizes for the first time the drastic drop in income that the pandemic will cause in its accounts. Until now, it had only reported losses of 7 million euros during the closing between March and June of this year.

The accounts of the entity for the year 2019, published in the BOE, predict that fall for 2020 although the gallery does not believe that it will have to subject its staff to any restructuring. The Prado Museum entered in 2019, the year of its bicentennial, more than 22 million euros for tickets, 22% more than expected. Last year, it broke its own record of public influx and also received 5.3 million euros from sponsorships and 1.1 million from space rental. All these revenues will decline considerably this year. Although to face this situation, the museum has a surplus of more than 27 million euros from previous years, as reflected in the data it has made public.

Among the outstanding expenses of last year are acquisitions for its collections such as the ‘Pedro de Campaña Self-portrait’ (170,824 euros) and the purchase of the Antonio Bonet Correa Library (112,847). The museum also received donations worth 1.6 million euros. Among the most important are the Meninas by Richard Hamilton (568,795 euros), the works donated by Hans Rudolf Gerstenmaier (688,667) and ‘Battle of Lapitas and Centaurs by Rafael Tegeo’ (125,000).

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