Arts and cultural organisations are increasingly at risk financially. What lessons can they learn from news publishing to secure their future? asks George Montagu.
Arts organisations have to focus on developing more sustainable business models to secure their future. In practice, this means reducing reliance on public funding and increasing recurring revenue from captive and new audiences.
This is not the first time that an industry has had to upend its prevailing business model. News Publishing has had to undergo a similar transformation - from primarily print to digital and advertising to reader revenue. The key question is, what lessons can arts organisations learn from the experience of news publishing to secure their future?...Keep reading on Financial Times Strategies.
Arts organisations have to focus on developing more sustainable business models to secure their future. In practice, this means reducing reliance on public funding and increasing recurring revenue from captive and new audiences.
This is not the first time that an industry has had to upend its prevailing business model. News Publishing has had to undergo a similar transformation - from primarily print to digital and advertising to reader revenue. The key question is, what lessons can arts organisations learn from the experience of news publishing to secure their future?...Keep reading on Financial Times Strategies.