Sponsorship of the Arts: Is it really worth it?

Reports published by the British Arts Festival Association (BAFA) and the Association of Independent Festivals (AIF) have warned the UK arts sector is at a critical tipping point. Research shows many of the UK’s art festivals are at risk of being lost due to a lack of funding. The IAF reported that 50 festivals have either already closed or are due to close in the next 12 months due in part to a lack of funding. The BAFA, which surveyed 101 arts festivals across the UK, including high-profile events like the Edinburgh Fringe, BBC Proms, Cheltenham Festival, and Hay Festival, also paints a bleak picture of the UK arts landscape.

Research from the Campaign for the Arts and the University of Warwick previously highlighted that under the Conservative government, the U.K. has "one of the lowest levels of government spending on culture among European nations." The total culture budget has been cut by 6% since 2010. However, there is renewed optimism with the Labour government signalling its intent to grow the U.K.'s arts and culture industry, which they claim contributes £125 billion to the national economy. Labour’s Creating Growth document emphasises supporting and broadening access to the arts and pledges a review of Arts Council England to steward the sector through the 21st century.