Private Investment in Culture Survey
Arts Council England
Arts Council England releases latest Private Investment in Culture Survey
Private investment increases by 8% over three years
Arts Council England published the Private Investment in Culture Survey. The survey, commissioned from research consultancy MTM, investigates the role individual giving, business investment and trusts and foundations play in funding arts and culture in England.
It shows that:
• Total private investment in 2017/18 was £545million, an increase of 8% from £505million in 2015/16. The majority of this growth took place between 2015/16 and 2016/17, with limited growth in 2017/18, in line with trends across the wider charitable sector.
• Individual giving makes up the largest proportion of private investment at 43% The share coming from trusts and foundations has grown significantly since 2015/16 to 38%, with business investment remaining stable at 18%.
• While there is optimism about the potential for further private investment over the coming years, there are concerns around whether organisations have the capacity to continue fundraising effectively, and about the concentration of funding in particular regions and types of organisations.
Sir Nicholas Serota, Chair of Arts Council England said “Arts and culture in England depends on a successful mixed funding model, with private investment and earned income working alongside public investment. In a difficult time for public funding, many organisations have worked wonders by increasing earned income; but with an uncertain financial future it is necessary to diversify funding further. Private investment is crucial for the financial support it brings, and the long-term relationship it helps build between the cultural sector and wider community.”
The survey finds that 57% of organisations expect growth in grants from trusts and foundations over the next three years, and 54% expect similar growth in individual giving. However, only 37% expect growth in business investment, possibly due to economic uncertainty, and there are concerns around regional imbalances, with much investment concentrated in London and major organisations.
The findings from the survey will provide organisations with a snapshot of the fundraising landscape and help shape Arts Council policy as we develop our new ten-year strategy, which will run from 2020.
For further information please go to: https://www.artscouncil.org.uk