In hard times most arts organisations need to generate new revenue streams through better financial management and more imaginative exploitation of cultural assets. This detailed report examines the political economy of the arts and culture. Its conclusion is that with the wealth of creative talent and entrepreneurial traditions the UK should be capable of turning itself into a Silicon Valley for the arts.
The success of organisations like the National Theatre and the Tate in turning themselves into “narrowcasters” – creators and distributors of content capable of being delivered on more than one platform to precisely defined target markets – provides solid evidence of how new forms of partnership between publicly funded bodies and commercial collaborators can help expand audiences and increase revenues. The future has arrived.