Two of the Academy’s deep-pocketed friends have each donated $10m to the forthcoming Academy Museum Of Motion Pictures.

As a result of the gifts from Jeffrey Katzenberg and Steven Spielberg (pictured next to Academy CEO Dawn Hudson at left and Academy president Cheryl Boone Isaacs at right), the two main galleries on the lobby floor will be named The Marilyn and Jeffrey Katzenberg Gallery and The Spielberg Family Gallery.

“Steven and Jeffrey share a passion for moviemaking and philanthropy,” said Academy Museum campaign chair Bob Iger.

“With these incredibly generous gifts, they are combining the two, moving us closer to our goal of building a museum to preserve the history of motion pictures and inspire the next generation of filmmakers.”

Since the Academy launched the Museum’s $300m capital campaign in 2012 it has secured more than half of its goal.

In September, the Dalian Wanda Group donated $20m and in recognition the Academy said it would name the film history gallery the Wanda Gallery.