Arts Council England reports that private investment in arts and culture has grown over the last three years and appears to be becoming less reliant on public funding.
The Private Investment in Culture Survey was undertaken by MTM and commissioned by Arts Council England to provide an insight into private philanthropy, donations from trusts and foundations and sponsorship in the arts and culture sector.
Key findings include:
- £480m – total private investment in culture in 2014/15, of which £96 million came from businesses, £245 million from individuals and £139 million from trusts and foundations
- 18% – private investment accounted for 18% of arts and culture organisations’ total income in 2014/15
- 29% – private investment is much more important for smaller organisations, accounting for 29% of total income for those with total income under £100,000
- 60% – the largest recipients dominate the sector, with the 50 biggest recipients accounting for 60% of total private funding
- +21% – private investment grew by 21% in 2014/15, primarily driven by high-value individual donations to the largest recipients.
