London Dominates Cultural Funding Landscape

London continues to dominate England’s cultural funding landscape, according to recent research from Arts & Business. Business Investment in the arts in England remains at £113.8 million whereas overall private investment has climbed to £660.5 million. Ninety percent of  all individual giving in England emanates from London and 67.8% of all business investment.

Arts & Business Private Investment in Culture – Headline Figures

• Individual Giving climbs to £372.9 million up £22.9 million on previous year
• Trust and Foundations rise to £173.8 million (up £23.7million on previous year)
• Business investment in English cultural organisations has slightly risen from £113.6 million to £113.8 million.  

Philip Spedding, Director of Arts & Business, commented:  “This year’s survey shows a relatively modest rise in total private sector investment of 7.6%.  When compared to the state of the economy, however, this looks like a remarkably robust show of support for culture. It is a clear testament to a consistent recognition within the business community that their arts partnerships do add value.”

“Two main concerns arise from the figures. First, the increasing dominance of cultural organisations based in London in terms of who is raising the most money. Second, the increasing reliance by the cultural sector on Trust and Foundation support.”

• Business support remains focused on investment through sponsorship, which is defined as a business expense for the purpose of trade.  Sponsorship has accounted for around 60% of total business investment over the last four years.  
• Counter intuitively during a recession, whilst cash sponsorship has remained fairly stable, in kind support from the business sector has fallen between 08/09 and 10/11.  The figure this year is similar to that of last year, suggesting that the fall has stabilised.
• Support given by individuals to the arts in England has risen by almost £23m between 2010/11 and 2011/12, reaching a total of £372.9m, a rise of 6.5% from the 2011 figures of £350.0m.   By far the largest percentage, 57.7%, has been spent by individuals to join membership schemes run by arts organisation.   The second largest percentage of total individual support has been given in the form of donations. The third highest percentage is in legacy giving.  At 19.4%, this is almost equivalent to the income donated by the living.
• Trusts And Foundations - Between 2010/11 and 2011/12 trust support of culture has risen by 15.8%.