New funding landscape for the arts

East London youth dance company
30 Nov 2023

Impact investment is an ideal partner for the arts sector where taking creative risks, experimentation and imagination are second nature, writes Fran Sanderson

Weathering the cost-of-living storm across the UK

Storm clouds and lightning
08 Dec 2022

Research rings warning bells about the potential effects of the cost-of-living clouds rolling in across all four nations. Anne Torreggiani asks how we can brace for impact and support communities? 

The search for new funding and business models

Band performing on stage
11 Sep 2024

There has been a lot of talk about the future of UK arts funding over the summer. Fran Sanderson has been assessing various funding streams to find ways to maximise their impact.

Shakespeare Birthplace Trust receives £1m donation

04 Sep 2024

Shakespeare Birthplace Trust has been gifted £1m from American playwright Ken Ludwig, the largest private donation in the trust’s 177-year history.

The trust has described the donation as “transformative”, adding it will go towards conservation works at Grade-I listed building Hall’s Croft, once home to Shakespeare’s daughter.

An audit of the conservation requirements of the 17th Century property is currently ongoing, with University of Staffordshire archaeologists mapping the building’s exterior to create a 3D model of the building.

“Our conservation work is a central part of our work as a charity and it enables our visitors and audiences to place Shakespeare in time and space as they explore his life story and his work, which continues to speak with profound meaning and relevance today,” said Tim Cooke, CEO of the Shakespeare Birthplace Trust.

“Shakespeare is the great foundation for all of us who work in the theatre, and it's an honour to support the preservation of Shakespeare's legacy in Stratford-upon-Avon,” Ludwig added. “As a playwright, restoring Hall's Croft is a way of giving back for the lifetime of joy and inspiration I've derived from the British theatre.”

Cultural tax reliefs pay out record £240m

A theatre audience clapping
04 Sep 2024

Government figures show a more than three-fold increase on the £75m paid out to theatres, orchestras and museums in 2021/22.

Business model for small arts organisations 'close to untenable'

The arts Professional and MyCake logos pictured alongside dancing children
29 Aug 2024

In the last in our series of articles investigating the state of arts sector finances, Arts Professional speaks to cultural leaders Linda BloomfieldBrian Logan and Sanaz Amidi about the challenges and advantages of being small arts organisations.

Smaller arts organisations facing worst financial struggles

29 Aug 2024

The latest in a series of articles investigating the state of arts sector finances explores how different sized organisations are faring in the current economic climate.

Derby dance company enters liquidation

Performers and spectators at Derby Feste in 2018
22 Aug 2024

National Portfolio Organisation Déda has entered voluntary insolvency due to financial issues. The announcement follows research from Arts Professional showing that in 2023, NPOs were collectively in the red by £63.1m.

BBC spends less on arts as quotas for ‘at risk’ genres dropped

Interior of Royal Albert Hall during a BBC Prom in 2016, Prom 13 - Beethoven 9
01 Aug 2024

The BBC's latest annual report is the first to be published following changes to its operating licence, which no longer stipulates quotas for arts and music broadcasting.

A fresh blueprint for funding arts organisations

Image showing the Blueprint team with a banner
02 Jul 2024

Arts organisations are only too aware of the limitations of short-term funding. But, in Northern Ireland, a pioneering financial programme provides a fresh blueprint for future funding of the arts, as Sarah Jones explains.

ACE acknowledges 'increased risk' for NPOs

Arts Council England Chief Executive Darren Henley
02 Jul 2024

Arts Council England has offered National Portfolio Organisations the opportunity to cut their activity by 15% to help them deal with reduced income and rising costs.

Glasgow theatre in 'imminent danger of liquidation'

The Citizens Theatre in Glasgow
02 Jul 2024

Glasgow's renowned Citizens Theatre in the Gorbals area of the city is facing a funding shortfall of as much as £8m, caused by the rising costs of its redevelopment.

EXCLUSIVE: Arts finances in worst state for five years

19 Jun 2024

The first of a series of articles investigating the state of arts sector finances highlights a huge decline in the financial health of organisations across the UK.

Sector finances revelations pose big questions

image from Coventry City of Culture
19 Jun 2024

Following extensive research into the finances of arts organisations, Sarah Thelwall of MyCake reflects on the serious implications for the sector.

Contact seeks 'financial resilience' after posting £1m deficit

Exterior view of Contact in Manchester
08 May 2024

Annual accounts filed by the Manchester theatre show its reserves dwindled to less than a month of operating costs, while Arts Council England has raised its risk rating.

Campaigners write to regulator over failings at Seven Dials

30 Apr 2024

A campaign group has written an open letter to the Charity Commission expressing “deep anxiety” over the financial management of Seven Dials Playhouse after the charity failed to submit its annual return and financial statements, which are 89 days overdue.

In their letter, the campaign group Actor at the Centre (AATC) calls on the Charity Commission to “urgently engage” with the trustees at Seven Dials Playhouse to ensure they are “giving due consideration to the representations of the performing arts community in London" and "properly accounting to the public for their management of the charity”.

Formally known as The Actors Centre, the Covent Garden-based charity was founded in 1978 by patron Sir Lawrence Olivier to “create a space where working actors can network and support each other as well as continue their professional training”.

During the pandemic, the organisation was forced to close its premises, losing over half its membership. It received over £450,000 in financial support, including £360,000 from the Cultural Recovery Fund and in 2021, rebranded to become Seven Dials Playhouse, ditching its former membership model.

AATC claims the building was “repurposed” during Covid and has become a West End receiving house with regular ongoing acting training “effectively eliminated”. 

A statement from Seven Dials Theatre read out at an AATC meeting on 22 April did not directly address concerns over its financial management but did note that as a charity that is not publicly subsidised, its income is earned through ticket sales, industry and corporate hires and bar sales.

The organisation said the cost-of-living crisis and changes in audience behaviour made “forecasting income extremely challenging”.
It added that "as soon as it is viable", it plans to continue “a programme of professional and artist development".

The Charity Commission said it would be reminding the charity of its reporting responsibilities.

A brighter future for entrepreneurs and opportunity-seekers

Abstract image of signal and noise
08 Apr 2024

Now more than ever it’s important to focus on the things that really matter, to free ourselves of distractions and to identify earned income opportunities, says Robin Cantrill-Fenwick.

Vault Festival closes after funding for new venue falls through

14 Mar 2024

London's Vault Festival of theatre and performance has announced its closure after funding for its new venue fell through.

Nederlander Theatres buys Dominion freehold

26 Feb 2024

The owner and operator of the Dominion Theatre in London's West End has purchased the Grade-II listed building's freehold with the support of a "multi-million-pound" loan from Lloyds Bank.

Nederlander Theatres, which also owns and operates the Aldwych Theatre and co-owns the Adelphi Theatre, said the acquisition of the freehold was the "culmination of a decades-long effort" by the family-run business to invest in and restore the art deco Tottenham Court Road theatre.

Jerry Katzman, CEO of the Dominion Theatre, said: “Our landlords were very understanding and have supported our efforts to invest in the Dominion, but owning it outright means we can continue to invest and operate in the way that will create the very best shows and experiences for our visitors. 
 
“The Nederlander family has been in the theatre business continuously since 1912. It’s their passion to keep theatres in the industry and restore them to their iconic magnificent grandeur. We now have the base to press on with that ambition, and the Dominion’s ready to deliver unmissable shows for generations to come.” 

“London’s West End is a huge draw for culture vultures from not just the UK, but across the whole world. The Dominion is at the heart of that, and the purchase helps protect a vital cultural asset in London," added Delcan Mulcahy, Technology, Media, and Telecoms sector head – mid-corporate at Lloyds Bank.

“The team behind the theatre have a clear vision, and owning the freehold has been a major strategic objective for decades. We’re proud to have helped the Dominion achieve that, and we remain by the side of creative businesses across London to dream big and be ambitious."
 

Majority of heritage organisations planning cuts 

Front of Chiswick House in West London, UK.
26 Feb 2024

Survey commissioned by the National Lottery Heritage Fund highlights action being taken by heritage organisations in the face of budget pressures.

Pages

Subscribe to Finance