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03/01/2007

Film Video Funding Support Increases By 30.4% To £10.6m

The film and video sector has seen an increase in the total amount of private support to £10.6 million an increase of 30.4% from the previous year's figure of £8.2 million, according to figures published by Arts & Business.
Film and video saw a growth in trusts and foundations income to £5.4 million and a decrease of income from individuals to £700,000. Business investment totalled £4.5 million.
Arts & Business figures also show that the amount of private support for the arts in the UK has grown to £530 million - a growth of twice the rate of inflation, with the biggest 50 (3% of the 4,000 arts organisations surveyed) taking the lion's share.
Colin Tweedy, Chief Executive of Arts & Business, commented: "Every year the level of private investment moves closer to the main public funders of culture in the UK. A&B's findings reveal three major trends. Firstly, the culture sector faces a more dynamic and competitive funding landscape than ever before. Secondly, individual giving has the potential to become the single most important source of funding in the future. Finally, too many cultural organisations rely on one source of funding to support their income - any radical changes could jeopardise the reliability of this income."
The Arts & Business Private Investment in the Arts report is the only survey in the world to annually produce these figures and report on both business investment and individual giving together.
The biggest growth area has been in individual giving which now stands at £262 million, a figure that is growing steadily year on year. From 2004/05 business investment remains static at just over £150 million, whilst trusts and foundations have risen to over £113 million.
The strong influence of one organisation puts heritage as the top recipient of private investment. This is followed by visual arts/galleries, museums and theatres. Together these sectors took 70% of total private investment. Libraries and archives saw the greatest increase in UK share of private investment, with film/video also showing a strong increase. Cash sponsorship was dominated by theatre, visual arts and galleries and festivals, taking 41% of the total UK share of this form of investment. Museums and music took the largest share of corporate donations, receiving 43%.
The A&B Private Investment in the Arts report reveals mixed results across the UK. London now accounts for 74% of all private investment with seventeen of the top twenty recipients of private investment listed in the survey based in London.
Tweedy added: "There is more money going to the arts from the private sector than ever before which is a great achievement. Together we need to make sure the arts are in the best position to work with the private sector and to convince more businesses to engage with the arts to unlock their full potential. 83% of the arts would have had their audiences limited without private investment, it is a force for good."
(SP)
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