Private investment in the arts fell by almost £32m (approximately 7%) in 2008/09, according to new figures from Arts & Business. Investment from business, and from trusts and foundations, was around 6% lower than 2007/08 (which translates to around £6m from each). Individual giving dropped by almost £20m (7%). Museums suffered worst, with both the biggest percentage drop (37%) and the biggest financial loss (£43.5m). Some artforms enjoyed an increase in investment. However, most suffered decreases, with literature and poetry receiving 26% less (£1m), and libraries and archives and community arts each receiving 23% less (£1.7m and £3.2m respectively).
Published: 18-01-2010