Private sector fundraising “not enough”, warn arts bodies
11th November 2011
One-third of arts organisations believe it will take until 2015 to recoup losses in public subsidy through other sources of income, new research has revealed. Meanwhile, a further 30% of organisations do not feel confident enough to predict when full recovery will be possible.
Larger companies are more positive, with more than half of organisations with an annual turnover of £5 million or more predicting a recovery. This drops to just 22.5% among groups with a turnover of £250,000.
The figures have been revealed by think tank Arts Quarter, following its fourth survey on the recession’s impact on the UK culture sector. According to the report, companies that have built up their capacity for fundraising are seeing a return for their efforts, particularly those outside London. However, this was to the detriment of organisations that had not been able to afford such measures. The report stated this “could provide early evidence of ‘bottle-necking’, where fundraising capacity is considerably increased within the sector without a commensurate rate of growth in philanthropy” to meet its needs.
The report also revealed increasing scepticism about the impact of the Olympics in London next year. Among theatre respondents, 35% felt the games may have a negative impact on their fundraising capacities, compared to 29% at this point last year, and just 3% believed they would have a positive impact. Only 6% of theatres believed the Olympics would boost their earned revenue.
Read the full story in The Stage