In the next 30 years, a record £5.5 trillion is set to be transferred between generations, as either inheritance or gifts. Michelle Wright thinks legacy giving is a neglected area of fundraising.
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In light of the huge challenges that so many arts and culture organisations have faced in recent years, Watershed’s Clare Reddington shares five ‘rules’ for turning your organisation round.
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Income generated from the use of recorded music in public places topped £283.5m last year, up 4% from 2022 - the highest level ever recorded by music licensing body PPL (Phonographic Performance Limited).
PPL said the increase was driven by an uplift in income from using recorded music in public places such as shops, bars, nightclubs, offices, and factories, which was up 11% to over £111m in 2023.
Meanwhile, international revenue collected by PPL for the use of members’ music worldwide reached £75.4m.
After operating costs and other deductions, the amount passed on to PPL members and other Collective Management Organisations grew by 5% year on year, with the cost as a percentage of revenue reducing from 13.3% to 13% in the previous year.
Peter Leathem, CEO of PPL, said: "In these somewhat precarious times for performers, we are proud to deliver a consistent stream of income for them and recording rights holders - over £1bn distributed in the past five years alone. As the world leader in international collections, we will continue to advocate for neighbouring rights in new markets to maximise revenue opportunities for all our members.”
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.
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Nearly 100,000 tickets have been sold for forthcoming shows at the recently reopened venue, following a £132m renovation.
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The NT Live cinema release of Uncle Vanya starring Andrew Scott has taken over £1m in UK and Ireland box office sales since its release on 22 February.
Premiering at 737 venues, Uncle Vanya had the widest release of any NT Live production, taking £768,872 in a single night, rising to over £1m by the end of the weekend. It is the biggest success for NT Live since Empire Street Production’s Prima Facie, featuring a solo performance by Jodie Comer.
Uncle Vanya, which played sold-out runs at Richmond Theatre and Duke of York's Theatre last autumn, saw Golden Globe nominee Scott take on all the roles in a 105-minute adaptation of Chekov's classic play. The show was produced by Wessex Grove, Gavin Kalin Productions and Kater Gordon.
Culture Secretary says the denigration of corporate sponsorship and donations needs to end if arts and culture institutions are to get the financial support they need.
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Design and Artists Copyright Society (DACS) has announced that it distributed £10.1m in Artist’s Resale Right (ARR) royalties in 2023.
The sum was split between 1,893 visual artists and estates, 228 of which were first-time payments to artists whose works had only recently begun selling above the threshold value of €1,000 on the secondary market.
ARR was introduced into UK law in 2006. Since then, DACS has paid a total of over £125m in resale royalties, benefiting 6,121 artists and estates.
Christian Zimmermann, DACS Chief Executive, said: “These monies recognise both artists' and estates' contributions to our society and the economy, with an art market worth £9.5bn and our creative industries contributing £116bn to UK GDP.
“Royalties go beyond financial transactions - they are essential catalysts for reinvestment, empowering artists to create and estates to preserve the artist's enduring legacy."
A company that owns a nationwide chain of music venues has announced record profits for the 2023 financial year.
The Electric Group owns and operates live music venues, including Electric Brixton, SWX Bristol and NX Newcastle.
The company reported earnings of £1.98m for 2023, up from £1.04m in 2022 and £1.36m for the year before the pandemic.
It is hoping to expand its operations and is assessing the viability of three new venues.
The company, which bought the freehold to the Leadmill in Sheffield in 2017, has been embroiled in a prolonged dispute with the historic club's managers after serving them with an eviction notice in 2022.
Electric Group CEO Dominic Madden commented: “As a company we embody the spirit of independence. We thrive on collaboration, working hand-in-hand with artists, fans, and partners to foster a music community that dares to be different.
“It’s not just about preserving history, it’s about breathing fresh vitality into every venue. We embrace innovation and consistently seek ways to invigorate oculturally significantant venues. We are delighted with the outstanding financial results of our company.
"We are delighted with the outstanding financial results of our company. Although we have had some unique challenges to deal with in the post Covid era including dealing with the catastrophic arson attack at SWX Bristol, the demand for live music and our curated approach to music programming of events is unabated."
Only five arts and culture organisations feature among the top 1,000 UK charities by legacy income, but experts highlight potential for significant growth in this field.
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Pilot programme designed to address a 'huge shift' in the creative workforce towards film and tv launches.
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In spending down their assets, trusts and foundations are making a strategic change of direction which could pose a threat to the charity sector, says Ben Wilson.
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Arts Council of Northern Ireland says increase in organisations leveraging investment from new sources is “positive news” amid “pressured and complicated funding picture”.
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Design and Artists Copyright Society (DACS) distributed more than £2.6m in Artist's Resale Right (ARR) royalties from July to September this year.
The figure brings DACS’ total royalties paid to artists and estates so far this year to almost £7.5m.
Median ARR payment in the third quarter was £280, with more than 60% of royalties under £500.
Of the 862 artists and artists’ estates receiving royalties during the third quarter of the year, 53 artists were paid ARR for the first time.
Since the right to ARR became law in 2006, DACS has now paid out almost £123m to 6,079 artists and estates.
DACS Chief Executive Christian Zimmermann commented “ARR is more than just a royalty payment”.
“For many artists and estates, it is an enduring connection between artists and the evolving ownership of their works; simultaneously creating a robust and transparent provenance trail, adding depth to the stories behind each work.”
Following the closure of the Bridge network earlier this year, and an unsuccessful bid for ACE funding, Nick Owen of The Mighty Creatives still thinks there’s life after funding loss.
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The cost-of-living crisis continues to impact museums across England, and the situation is expected to get worse before it gets better, according to a new report.
Funded by Arts Council England and produced by South West Museum Development, the Annual Museums Survey gathered data on 700 accredited non-national English museums. It found while visitor numbers in 2022/23 were higher than the previous year, they were down 18% on pre-pandemic levels.
Museums also reported increased expenditure of 10%, mainly on energy bills, materials, staff costs and travel. At the same time, visitor spending was down overall and some organisations had also experienced a drop in donations.
After a slight increase in reported income during 2020/21 and 2021/22, overall income for museums dropped by 3% in 2022/23.
The report found museums attempting to balance the need to generate more revenue by increasing ticket prices with a desire to keep admission fees low to encourage visitors.
Respondents said schools were struggling to fund museum visits for pupils, especially the transport costs. The report concluded that museum visitor demographics and behaviour are increasingly difficult to predict.
The cost-of-living crisis has also significantly impacted museum staff and volunteers, according to the survey, as some employees departed for higher-paid jobs or moved to new roles closer to home.
Seasonal staff and lower-paid positions in retail, catering and cleaning proved challenging to hire, while some volunteers returned to paid jobs or could not afford to travel to perform their roles.
Despite this, the number of volunteers increased last year by 11%, only 5% fewer than pre-pandemic levels.
Victoria Harding, Programme Manager at South West Museum Development, said: "A range of factors, such as free entry and geography, have influenced the degree to which museum visitors have returned to pre-pandemic levels.
"However, across the sector, irrespective of how successfully museums have generated increased income through a variety of new, or enhanced, ways this progress is outstripped by the increase in expenditure reported by 64% of museums."
Kelman and Gemma Greig-Kicks are on a mission to use virtual reality technology to democratise theatre and provide new income streams for creators.
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Government figures reveal the economic value of music, performing and visual arts is outperforming the rest of the economy, but sector leaders warn individual venues continue to struggle.
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National Portfolio Organisation warns that reductions in public funding combined with rising costs makes its current business model unsustainable.
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A museum in Hampshire has submitted plans to build homes on its site in order to generate income to secure its future.
Bursledon Brickworks Museum, in Swanwick, wants permission for 12 homes to be built on its site which is home to historically significant industrial buildings including a brickmaking kiln, processing sheds, specialised enclosures, engine and machinery houses, along with a café and a museum, The Portsmouth News reports.
"Due to the listed nature of the Brickwork Museum, these buildings require essential repairs and restoration works to safeguard their future as heritage assets," an application put forward by the museum states.
"The Brickwork Museum will require substantial funding to carry these repairs and restoration works.
"The money required will come from a variety of sources but these alone cannot raise the required funds to carry out the works.
"Therefore, the purpose of developing the land for residential dwellings is to enable the land to be sold to a developer in order to raise significant funds that can enable the works to the listed buildings to take place."
