London was the prime beneficiary of the £150 million invested by business last year in UK arts sponsorship. The nation’s capital is seen as the most modish home for sponsorship, the more so given last year's opening of the praised Tate Modern gallery and the ever-controversial Turner Prize.
Says first-time sponsor Credit Suisse First Boston, which ploughed £1m into The Genius of Rome exhibition at the Royal Academy of Arts: “I think it raises our profile, it clearly allows us to put something into the community, in this case London”, says CSFB’s John Nelson.
“London is already a vibrant artistic centre but in order for it to be vibrant it needs business to take an active part," Nelson continued. "It also allows us to provide education opportunities to schools in and around East London in the area that we operate."
Outside London, corporate largesse diminishes dramatically. According to Colin Tweedie, chief executive of facilitating body Arts and Business: “The danger is that every business will want to do the exclusive, smart art galleries because Britain's Britpack is considered the sexiest new artists in the world."
"I've got to get every business to understand that a small theatre company in Gateshead or a puppet theatre in Bromley is just as important for business support," he warned.
News source: BBC Online Business News (UK)
