The Academy Museum of Motion Pictures has received contributions from Netflix, Bloomberg Philanthropies, producer Charles Roven, and Tom Spiegel — bringing the delayed project to nearly 80% of its $388 million funding goal.
The museum project has been beset by cost overruns and remains more than $78 million shy of its revised budget. The Academy Museum was originally slated to open this year; it’s now set to open its doors sometime in 2019.
The Academy of Motion Picture Arts and Sciences didn’t disclose the amounts of the new donations, but the total was less than $23 million. Last month, Haim and Cheryl Saban gave $50 million to the Academy Museum, the biggest contribution to date. With the gift, the Academy renamed the May Company building, which will house the main part of the museum, the Saban Building.
The museum, at the corner of Wilshire Boulevard and Fairfax Avenue, is designed by renowned architect Renzo Piano. It will feature six floors of exhibition spaces, a movie theater, education and special event spaces, conservation areas, a café and a gift shop. A spherical addition, which detractors have likened to the Death Star, will include a 1,000-seat theater and a rooftop terrace connected to the Saban Building with glass bridges.
Netflix, the Charles V. Roven Family Foundation and the Thomas Spiegel Family Foundation have contributed gifts to name spaces within the Academy Museum’s Saban Building. Those will be the Netflix Gallery Terrace on the second floor; and the Charles V. Roven Family Foundation and the Thomas Spiegel Family Foundation Terrace on the fifth floor. Spiegel, who lives in Las Vegas, is chairman and CEO of Linq3, which operates a payment-processing platform for state lotteries.
Mike Bloomberg’s Bloomberg Philanthropies, meanwhile, has provided funding to develop the Academy Museum’s digital platforms through its Bloomberg Connects program. Those will be designed for both on-site visitors and online users.
The new donors “understand our aim of enlightening the public as no other museum can about the art, science and history of the world’s motion pictures,” Ron Meyer, NBCUniversal vice chairman and chair of the newly established board of trustees of the Academy Museum, said in a statement.
The Academy kicked off the museum campaign in 2012. The initiative is headed by Disney CEO Bob Iger and is co-chaired by Annette Bening and Tom Hanks.
Other donors who have donated funds for named spaces include: The David Geffen Foundation (The David Geffen Theater), Dalian Wanda Group (Wanda Gallery), Dolby Laboratories and the family of Ray Dolby (The Dolby Family Terrace), The Walt Disney Co. (The Walt Disney Company Piazza), Marilyn and Jeffrey Katzenberg (The Marilyn and Jeffrey Katzenberg Gallery) and Steven Spielberg (The Spielberg Family Gallery).
Pictured above: An artist’s rendering of the Academy Museum.