Find out what the Met Gala raises money for and how much the event makes as we explore the purpose behind the famous fashion fundraiser.
Discover the extortionate prices of tickets along with tables and take a look into why attendees choose to spend so much on the NYC exhibtion.
What does the Met Gala raise money for?
The Met Gala, formally named the Costume Institute Gala or the Costume Institute Benefit and also known as the Met Ball, is an annual fundraising gala for a local institute.
Located in New York City, the event marks the opening of the Costume Institute’s annual fashion exhibit and raises money towards the benefit of the Metropolitan Museum of Art’s Costume Institute in NYC.
The Institute serves as the museum’s fashion department and is reportedly the only department in the museum that must fund itself, meaning the stars offer a lot of help.
While the ball is generally co-chaired by Vogue editor-in-chief Anna Wintour, she took the role of an honorary co-chair for the 2021 event alongside a handful of celebrities and public figures such as Billie Eilish, Timothee Chalamet, Naomi Osaka and Amanda Gorman.
Each year, the Met Ball releases a theme with which the attendees’ costumes must align.
The 2021 Met Gala’s theme was “In America.”
Due to the coronavirus pandemic, 2020’s event was cancelled therefore this year’s fashion fundraiser had high expectations in hopes to raise a lot of money.
Covid-19 measures were however still in place, including face masks to be worn indoors and proof of vaccination required.
How much does the event make?
When Wintour began running the event back in 1995, individual tickets were priced at just $1,000.
As per The Associated Press, tickets to attend the Met Gala cost at least $30,000.
In terms of attendees, The Cut reports that between 500 and 600 people attend the event each year, resulting in a minimum of $15 million to possibly be made.
Although the 2021 fundraiser is thought to be more intimate following coronavirus restrictions, meaning the total raised amount could decrease.
What’s more? Typically bought by big brands and fashion houses, table prices reportedly start at a staggering $275,000.
In 2019, the event raised a total of $13 million and Fox Business claim that it has been estimated that Anna Wintour has raised up to $200 million for the Institute overall.
Who pays for the tickets?
While stars are often given invites by Wintour herself, it is also very common for a brand to host attendees and buy pricey tables at the Gala.
Stars may also be accompanied at the event by the designers who dressed them.
Wondering why brands would spend so much money on a single event?
Newsweek reports that the exhibition is largely viewed as an advertising opportunity for luxury labels who would buy a table and fill it with popular celebrities they want to align their brand with and dress them accordingly.
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