Arts Sponsorship Growing, But Lagging Other Sponsorship Genres
Per sponsorship consultancy, IEG, sponsorship spending on symphony orchestras, performing arts venues and other arts organizations is expected to total $920 million in 2013, up 3.3 percent from 2012.
With the exception of fairs and festivals, the year-over-year growth falls behind most other property genres such as associations and membership organizations (4 percent); causes (4.8 percent); entertainment (5.1 percent) and sports (6 percent), as well as the company's projected 5.5 percent increase for the overall sponsorship industry.
“Arts organizations are benefiting from renewed strength in the financial services sector,” said William Chipps, IEG Sponsorship Report senior editor with Bank of America, JPMorgan Chase and Wells Fargo leading the way.
