News Article Published:
Friday, 13 April 2007
Category:
Professional Services
Banks and financial services are increasingly sponsoring the "young and dynamic market" of the arts.
Recently, Barclays launched an Invest and Inspire campaign aimed at the British Museum and other national institutions.
Similarly, Deutsche Bank has promoted its Pyramid Award Scheme for grass-roots work, while Egg has worked with the Derby Playhouse.
Bharat Book states that such ventures have led to the market growing by 76.9 per cent between 2000 and 2004, leading to a value of £115 million.
It added that art sponsorship provides "image benefits", but are generally more complex than standard media sponsorships.
This is because they can come in several formats, such as capital projects, in-kind sponsorships or the provision of temporary staff.
Nationwide recently launched an original marketing campaign by teaming up with Skybus to launch a new branded Airbus A319 airplane.
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